The Governor of the Central Bank of Libya, Naji Mohammed Issa, and the Governor of the People’s Bank of China, Pan Gongsheng, agreed Saturday to connect Libyan commercial banks to China’s payment and settlement system, Anadolu reports.
In a statement on its website, the Central Bank of Libya said Issa, who is visiting Beijing, met with the Governor of the People’s Bank of China on Friday.
They reviewed the volume of trade between the two countries and discussed ways to strengthen it and increase its growth rate.
“The importance of launching a new phase of genuine strategic partnership between the two central banks was discussed. It was agreed to connect Libyan commercial banks to China’s Cross-Border Interbank Payment System, CIPS, which will simplify financial transfers and make them easier to conduct,” it said.
CIPS was launched by the People’s Bank of China in 2015 to facilitate international transfers using the Chinese yuan.
