In application of the People’s committee resolutions with regard to the development and manipulation of the banking participation in economy development through the introduction of distinguished services in line with the internal standards, the Libyan Central Bank has contracted strategic projects inclusive of all working banks in Jamahiriya and including the NCB to increase the overall standards by contacting with the internal expert consultant companies in the filed.
Overview of The System
The project aims at development of the services rendered at banks and provide the best possible services by providing the pressing need for better services to cope with time acceleration and style of speed deemed necessary in achievement of banking operations nowadays. Besides, provide the secure and safe system for transition of documents which is not manually available anymore particularly in some partial operations like clearance between banks, and to be automatically achieved through accurate automatic system subject ot all proper technical terms . Approval for execution on the national element has been set and some particles of the project has been collected as follows :
First : Communication Project
Authorization of communication project for some technologies to link Jamahiriya regions which are :
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Satellite Technology (V-Sat) :
It save time and accelerated achievement , as it does not depend on infrastructure. It adopts the transmission of the signal ( Dwon-Up), at all regions where this service is available among branches, and where wireless connection is established now in the following in Tripoli : Az Zawiya, Musurata, Benghzi, Al Baydaa, Tubruk, Darna, and Sebha.
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Optical Fibres : in process now, and there are field survey in process now in Tripoli in accordance to the message of Deputy Project Manager, Authorized to provide of safe and secure communication works for designated branches.
Second : CBS communication banking system
The phase of production definition has been complete and compatibility with the New General Ledger, and these date included the New General Ledger and the new items where the bank employees has defined and work is in process for data transmission and to completer customer database where 40% has been achieved in the two targeted branches.
Third : (ATM/POS) Automatic Teller Machine / Point of Sale- Project
5 ATM machines has been installed at Bank Branches and issue of Credit Cards and work is smoothly running at branch level. Work is running to ling the machines with the National Distributor. Obtain of necessary approvals for the development of the ATM machines and to add 30 other machines during this year.
Fourth : RTGS & ACH ( Real Time Gross Settlement System & Automatic Clearing House)
This project is the channel that pours into all systems ( Check Clearance, Banking Systems – Automatic Telling Machine), where it receives the participants, and it is one of the minor systems. Concentration should be on the training of a team that will handle the processing of banks and the Central Bank. This project has been started already.
Fifth : ACP ( Automatic Check Processing)
Project idea, depends on the exisitenace of a unifed system for check clearance among banks. The check will be presented at Branch X for eample, and will be forwarded to the Main Branch which will endorse the amount with aprrocal or rejection. Thus save time consumed among branches and the clearance center. Recently, arrangement for clarance at the bank is in progress since : 02-07-2008.
