SAAFER pay · Digital LYD
From Libya to the world, through a proposed digital payment experience.
A concept for paying and settling with a digital Libyan dinar: issuance, monetary and FX policy stay with the Central Bank of Libya; a licensed institution handles custody, compliance, permitted conversion and settlement; SAAFER is the app and service-access layer.
Concept / Proposed Pilot — Subject to CBL Approval
تصوّر مقترح / مشروع تجريبي مقترح — يخضع لموافقة مصرف ليبيا المركزي
This page does not describe an approval, a licence, a signed partnership or a live product; it is a concept for discussion.
The need, in public numbers
- Foreign currency used for personal purposes through Libya’s commercial banks
- USD 7.8 billion
- Value traded through electronic payment tools in Libya
- LYD 389 billion
- People in Libya using the Internet, as a share of the population
- 82%
- Population of Libya
- 7.5 million
Proposed concept — subject to CBL approval
Who does what in the proposed system
Five parties, each with a defined role. The line of authority (who sets the rules) is different from the payment path (where the money moves) and from reconciliation data (what a reviewer sees).
- Line of authority. Rules come down from the central bank to the licensed parties.
- Payment path. From the user’s request in SAAFER, through the licensed institution, to the international provider.
- Reconciliation data. Every payment’s records go up to those who review and oversee.
- Currency issuance
- Monetary policy
- Foreign-exchange policy
- Oversight within the proposed model
- The infrastructure the central bank approves for the digital dinar
- Its exact duties are set by the arrangement eventually approved
- Holds balances or handles accounts
- Identity and compliance checks
- Permitted conversion into foreign currency
- Settlement with the international provider
- As the approved arrangement allows
- The user interface and balance view
- Service selection and payment request
- Receipt and request status
- Connecting service providers
- Delivers the service: a hotel, a flight, a course or another service
- Receives payment through the licensed settlement channel
What SAAFER does not do
- Does not issue any currency
- Does not set exchange rates
- Does not sell foreign currency for its own account
- Does not run a parallel FX market
One payment, step by step
One example followed to the end: a hotel booking abroad. Every figure, rate and fee here is illustrative.
Illustrative example · not a real transaction
Sample balance
Through SAAFER the user sees a sample digital-dinar balance, held by the licensed institution.
- Sample balance
- 2,500 LYD
- Sample transaction ID
- SPD-DEMO-0427
Services in the proposed concept
Proposed uses for the payment channel, starting with travel and tourism in the pilot.
Travel and tourism · From Tripoli · Trips, packages and tourist services abroad.
Oversight, reconciliation and safeguards
In the proposed concept each payment is matched across three records by the same ID and amount, and an authorized reviewer sees the full trail.
- Initiated
- Under review
- Sent for settlement
- Reconciled
SPD-DEMO-0427 · Initiated
| Record | ID | Amount | Status |
|---|---|---|---|
| SAAFER order | SPD-DEMO-0427 | 1,515 LYD | Initiated |
| Licensed institution record | SPD-DEMO-0427 | 1,515 LYD → 300 USD | Initiated |
| Provider receipt | SPD-DEMO-0427 | 300 USD | Initiated |
- Sample transaction ID
- SPD-DEMO-0427
- Total
- 1,515 LYD
- Price
- 300 USD
- Status
- Initiated
- Request started in the SAAFER app
- Identity and limit checks at the licensed institution
- Illustrative approval
- Licensed conversion, sent for settlement
- The three records reconciled
Proposed safeguards
- Identity checks (KYC)
- AML/CFT screening
- Limits and allocations
- The approved exchange rate
- Audit log
- Monitoring and reconciliation
- Cybersecurity
Intended outcomes, not proven results
- Clearer traceability of payments
- More precise reconciliation
- Regulated access to international payments
- Wider financial inclusion
- Less reliance on cash
- Better payment data
The pilot concept
A limited pilot starting with travel and tourism, under Central Bank of Libya oversight and with a licensed partner. Limits, dates, partners and metrics are not yet set.
Proposed stages
Setup
The study, the approvals and the link with the licensed institution.
Limited pilot
Limited participants, ceilings and currencies in travel.
Evaluation
A review of performance, compliance and reconciliation.
Possible expansion
Other sectors, if the evaluation and approvals allow.
Proposed scope
- Travel and tourism first
- A limited group of participants
- A licensed partner institution
- Limited ceilings and currencies
- Performance reporting
- Staged evaluation
Proposed study outputs
- Legal basis
- Issuance and settlement model
- Bank integration
- Compliance
- Cybersecurity
- Reconciliation
- Pilot evaluation
SAAFER app preview
Try the screens yourself. All data is sample data, stays in your browser and is never sent.
Illustrative example · not a real transaction
Questions
Has the Central Bank of Libya approved this system?
No. This page presents a concept and a proposed pilot that are subject to Central Bank of Libya approval and any required authorization; it does not describe an existing approval or licence.
Who would issue the digital dinar?
In the proposed concept, issuance belongs to the Central Bank of Libya alone. SAAFER issues no currency.
What does “1 digital LYD = 1 LYD” mean?
It is a design assumption in the proposal documents, not a confirmed issuance policy, a redeemability guarantee or a live exchange rate.
How would conversion into dollars or euros work?
Only through a licensed bank or payment institution, at the rate and under the rules the Central Bank of Libya sets. The system is not a parallel currency market, and any rate or fee on this page is illustrative.
What is SAAFER’s role?
The app, merchant and service-access layer: showing the balance, choosing the service, requesting payment and the receipt. SAAFER does not set exchange rates or sell foreign currency for its own account.
What would the pilot cover?
It would start with travel and tourism, a limited group of participants, a licensed partner, limited ceilings and currencies, performance reporting and staged evaluation. Dates, partners and metrics are not yet set.
Is this a cryptocurrency or an investment?
No. The concept involves no cryptocurrency and no investment promise; it is a proposed payment channel inside the official financial system.
We welcome discussion with the institutions involved
If you are a bank, a licensed payment institution, a reviewing body or a possible collaborator, contact us to discuss the concept. This page collects no financial details.