Network International, a prominent fintech firm in the Middle East and Africa, has announced a strategic partnership with Libya's National Union Bank (NUB). The two companies aim to modernise the Libyan banking sector and broaden access to secure, innovative financial services, marking a significant step towards enhancing digital financial inclusion across the nation.
The agreement will see Network International equip NUB with a full spectrum of digital payment processing services. This includes end-to-end prepaid card issuance and a variety of value-added solutions. The collaboration is designed to accelerate NUB's digital transformation, elevate the customer experience, and align with Libya's broader objectives for financial inclusion.
Leveraging Advanced Technology for Enhanced Services
Through Network International's sophisticated 'Digital Payments-as-a-Service' platform, NUB will gain access to robust fraud prevention tools, comprehensive back-office managed capabilities, and other premium services.
These advancements will empower NUB to offer its customers seamless, secure, and scalable payment experiences. Furthermore, the partnership is expected to enhance operational efficiency and reduce the time-to-market for new financial products and services.
Driving Digital Financial Inclusion
Dr. Reda Helal, Group Managing Director, Processing, Africa at Network International, expressed enthusiasm for the partnership, stating, "This partnership marks a significant milestone in our commitment to help expand digital financial services across Libya. We are proud to support National Union Bank's transformation journey and help bring modern, inclusive banking solutions to more people. Together, we aim to build innovation, improve customer access, and contribute to the growth of Libya's fintech ecosystem."
Ahmed Sultan, Chief Executive Officer of National Union Bank, echoed this sentiment, adding, "Partnering with Network International allows us to leap forward in our digital strategy. With their proven expertise and cutting-edge technology, we can offer our customers faster, safer, and more convenient financial services. This is a major step toward building a more inclusive and digitally empowered banking environment in Libya".
Financial inclusion in Libya
According to data from the World Bank, access to financial services in Libya is a mixed picture. There has been a notable growth in mobile money adoption, also thanks to the central bank's initiatives. But the improvement is often limited to digital payments.
Access to formal credit for individual and business is limited, as the financial infrastructure is still underdeveloped - or was damaged during the troubled recent years.
A national financial inclusion strategy was launched in 2025 to address these gaps, but challenges persist with outdated banking laws, anti-money laundering concerns, and weak credit information systems hindering access to financing, particularly for small and medium-sized enterprises and women.
It is quite hard to find recent data about financial inclusion in Libya, as some statistics were last updated in 2015 or 2017. And the quick development of mobile technology and fintech services could improve access much more efficiently and rapidly than traditional, branch-based banking.
