The Central Bank of Libya (CBL) announced today that its state National Switch operator, Moamalat Financial Services Company, will be reducing commissions imposed on the use of bank cards at points of sale (POS) to 1 and 1.5 percent from 3.75 percent. The announcement came after CBL Governor Naji Issa met today with officials of Moamalat Financial Services Company, in the presence of the directors of the concerned departments of the CBL, where they discussed the POS commission reduction. Possible further POS commission reduction? The CBL said these steps come within the framework of its plan to further develop electronic services. Tadawul and Moamalat services to be used interchangeably by customersIt will be recalled that only yesterday the CBL finally allowed the private sector Tadawul Tech, one of Libya’s largest electronic payment providers, to interface its e-payment acceptance network with the state National Switch, Moamalat Financial Services Company.
