Libya

No Open Banking

The fourth-largest country in Africa’s financial system is suffering from political instability.

A graphic image showing world countries and border lines in different shades of blue, Libya is made prominent being filled in orange colour.

There is heavy mobile phone usage in Libya, equivalent to 176% of the population, and internet penetration stands at 46%.

In 2021, the U.N. warned that the Libyan banking system was at risk of collapse following the division of the central bank. A blockage on oil revenue was partially to blame.

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