Several Libyan banks have launched an interest-free loan initiative in response to directives from the Central Bank of Libya. The program allows eligible customers to borrow up to 60 percent of their basic salary, aiming to provide financial relief amid ongoing economic challenges.
The National Commercial Bank has made the loans accessible through its MobiMal app and via text messages, offering a seamless digital application process. Similarly, North Africa Bank has integrated the service into its Nap Mobile app, requiring users to update the application and activate the “Mat7sebhash” service to apply.
In contrast, Al-Nouran Bank has chosen an in-person approach, requiring applicants to visit its branches nationwide. Customers must present a salary certificate and sign a commitment form to secure the loan.
This initiative is expected to provide much-needed financial support to Libyans as the country continues to navigate economic difficulties.