Banking Supervision (August 27-31)
With the aim of enhancing the regulatory framework of the Central Bank of Libya (CBL), METAC held an off-site training to CBL officials on Islamic finance risks, and assisted them in drafting prudential guidelines for Islamic banks on risk management, credit risk management, and liquidity risk management, in line with the applicable recommendations set out by the Islamic Financial Services Board (IFSB) and within the context of Libyan’s industry. The mission also provided the CBL team with recommendations for a smooth implementation of these guidelines.
Statistics (September 16-27)
In January 2017, METAC, in collaboration with the Bureau of Statistics and Census of Libya, designed a program to develop Libya’s national accounts compilation system. Strengthening the staff’s capacity was identified as a priority, and METAC provided intensive training to the officials participating in the mission. A follow-up mission was organized in September, during which METAC provided off-site training to six participants from the Central Statistics Organization (CSO) on developing the source data and re-establishing the national accounts compilation framework. The mission aimed to reinforce the achievements of the previous January mission. The old questionnaires were redrafted, to be used in the planned economic survey in 2018. Based on the existing information, the mission designed and recommended a compilation framework to cover the 2013-2017 data gap, which is one of the major concerns of both the compilers and users of national accounts data.