Musbah Akkari, the new president of the National Commercial Bank (NCB), one of Libya’s largest banks, has apologized to customers and promised to improve his bank’s services. “We apologize to all of our valued customers for any shortcomings and are committed to doing more to improve services and improve banking for the better,” he said.
Akkari was previously chairman of Libya’s largest bank, the state-owned Jumhuria Bank. He is also a member of the influential Libyan Dinar Exchange Rate Committee of the Central Bank of Libya.
The NCB Charman was announcing a series of new services and products in response to customer demand and reviews. BCN was a typical public bank with very poor customer service and few new products. Like all state banks, it is overcrowded and serves more as a safe deposit box for the state to distribute its salaries. Akkari is trying to change that.
Increase in cash withdrawal limits
To this end, the BCN has announced that it has raised the ceiling for ATM withdrawals to 700 dinars per day, 1,400 dinars per week and 4,000 thousand dinars per month. It also raises the ceiling for purchases via points of sale to a monthly ceiling of 8,000 dinars. Thanks to its Yasser Pay service, the ceiling increases from 2,000 dinars to more than 100.00 dinars, depending on the type of goods, as well as a cash withdrawal limit of 2,000 dinars, which can be raised in the event of emergency.
Opening of new branches and renovation of old ones
During 2022, Akkari revealed that the NCB will open branches and agencies and rehabilitate new branches and perform maintenance of branches affected by the wars the country has experienced. These are:
1- Dar es Salaam branch – opened at the beginning of the year
2- Opening of the Al-Abraq branch
3- Marawa agency open
4- Opening of the Al-Marj branch
5- Jallo agency open
6- Al-Jihad branch was moved to the new building and opened
7- Opening of Ajdabiya branch after full maintenance
8- Opening of the Al-Madar agency, Tripoli
Opening of the 9 Solidarity Corner agency
10 Branch of the town square open
11- The Commercial Complex Agency has been opened
12 – Surman Agency – to open in October
13- Sabrata branch – opening in October
14 Al-Ajelat branch – opening in November
15- Al-Hawari branch: Transfer to the building after maintenance, within the next 12 months
16- Opening of the Al-Abyar branch in October
17- Benina Agency – opening in October
Launch of Islamic products
Akkari also announced that after a four-year shutdown, the BCN will relaunch Islamic finance service products for individuals on September 18.
He pointed out that the BCN is ranked third in terms of obtaining foreign currency, according to statistics from the Central Bank of Libya for the month of August this year.
The new computer system
The BCN President also announced the completion of the rollout to the rest of the bank’s branches on the brand new IT system by the end of October. The bank had partially shut down its system for a month in the summer to upgrade it. He was the subject of much criticism for the move. Akkari said it was a necessary step.
He also revealed the installation of 300 ATMs by the end of this year, compared to 120 currently.
The bank is working on improvements
Akkari said these new planned improvements will mean that the BCN has a strong financial position and there is an administration that is working and trying to upgrade banking services to the best.
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