Libya’s financial sector is entering a new digital era as Network International signs a strategic processing agreement with Al Seraj Islamic Bank (SIB). The landmark partnership aims to modernize digital payments in Libya, expand banking access, and strengthen financial inclusion nationwide.
The agreement marks a central pillar of SIB’s long-term growth strategy. The bank plans to expand its footprint, increase market share, and reinforce its position as a leading Islamic financial institution in Libya.
Driving Digital Transformation in Libya’s Banking Sector
Under the new partnership, Network International will deliver comprehensive end-to-end payment processing services. These include Visa sponsorship, prepaid card issuing capabilities, and advanced value-added digital solutions.
As a result, Al Seraj Islamic Bank will enhance customer experience while streamlining internal operations. Moreover, the bank will expand access to secure and flexible digital payment options across Libya.
Importantly, the collaboration aligns with Libya’s national financial inclusion goals. It will help underserved communities access reliable and secure banking services. Consequently, more individuals and businesses can participate in the formal economy.
Strengthening Libya’s Financial Inclusion Agenda
Through this strategic alliance, SIB will modernize its payment infrastructure and introduce next-generation Shariah-compliant digital products. Customers will benefit from seamless transactions, faster services, and improved digital engagement.
In addition, the partnership empowers communities with safe and modern payment systems. It also supports broader economic growth by encouraging digital commerce adoption across Libya.
Mohamed Abu Gebba, Regional Managing Director – Processing, North Africa at Network International, described the deal as a turning point for the sector.
“This partnership represents a major milestone for Libya’s financial ecosystem. Al Seraj Islamic Bank’s confidence in us reflects our regional leadership and our ability to deliver secure, innovative payment solutions. Together, we will advance financial inclusion and empower communities with modern financial services.”
Strategic Growth for Al Seraj Islamic Bank
Foze Ghaith, Chief Executive Officer of Al Seraj Islamic Bank, emphasized the strategic importance of the collaboration.
“We chose Network International because of its strong reputation, proven service excellence, and deep understanding of Libya’s banking landscape. Their end-to-end processing capabilities will enable us to launch advanced digital products and accelerate our growth strategy. This partnership strengthens our commitment to delivering world-class, Shariah-compliant digital banking solutions.”
The services are scheduled to go live in Q1 2026, signaling a major boost for Libya’s fintech ecosystem.
