Libya’s Minister of Labor and Rehabilitation in the Government of National Unity, Ali Al-Abed Al-Rida, met today, Thursday, with the “Wafed” platform team and the joint committee for the “Libya Startup S.S” project. The discussions focused on innovative solutions to enhance financial inclusion and regulate legal migrant workers’ financial transfers within Libya and to countries in the Sahel and Sahara regions.
According to the Ministry’s media office, the meeting aimed to ensure that financial transfers are conducted through the state’s official banking system.
During the meeting, Al-Abed emphasized the importance of monitoring the financial flows related to migrant workers and their impact on the national economy. He stressed the need to regulate and govern these operations to support the national economy.
The ministry team provided presentations on the project, its objectives, and the timeline for its implementation. They highlighted the importance of utilizing electronic technologies, achieving financial inclusion, governing foreign labor, and ensuring the state’s rights concerning taxes and service fees.
Libya Post expressed its readiness to provide the necessary support for the project’s success. Additionally, Waha Bank’s team presented advanced banking solutions and potential collaboration opportunities with Libya Post.
Almadar Aljadid company explained the importance of electronic payment services through apps like “Sadad,” which can facilitate financial transfers.
The meeting concluded with the Minister of Labor and Rehabilitation recommending the formation of a joint working group from the relevant entities to expedite the project’s implementation in coordination with monetary authorities. He emphasized the significance of these national efforts to enhance Libya’s regional and international standing.
The meeting was attended by officials from various entities, including the Ministry of Labor and Rehabilitation, Almadar Aljadid, Libya Post, Sahel and Sahara Investment and Trade Bank, Waha Bank, along with the General Manager and Advisor to the Chairman of Waha Bank’s Board of Directors, and several department heads.
