A reliable source familiar with the meeting held on Thursday in Bangkok, Thailand, between the Governor of the Central Bank of Libya, Naji Issa, and the General Manager of the Bank for International Settlements (BIS), Pablo Hernández de Cos, stated that discussions cantered on strengthening technical cooperation and developing the capabilities of the Central Bank of Libya and Libyan commercial banks in the areas of banking regulation and supervision.
In an exclusive statement to Libya Herald, the source explained that the meeting addressed opportunities to leverage the technical expertise and training programmes offered by the BIS—specifically regarding the implementation of the Basel Committee on Banking Supervision standards, risk management, governance, and the enhancement of financial stability.
The source added that cooperation in these areas aims to support the development of Libya’s banking regulatory framework, improve the efficiency of specialized personnel, and bolster the capacity of banking institutions to comply with international standards and established best practices in risk management and financial sector oversight.
The source noted that the meeting is part of the Central Bank of Libya’s broader efforts to expand its relationships with international monetary and financial institutions, and to draw upon specialized expertise to modernize the banking sector and enhance its ability to keep pace with developments in the global financial industry.
The meeting took place on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok, and was attended by Damiano Sandri, Advisor to the General Manager of the BIS and Head of his office.