Paying by card on credit in Libya: what really exists
Revolving credit cards with interest have had no place in Libya since the 2013 anti-usury law: banks mainly issue debit cards and prepaid Visa or Mastercard cards, while the Central Bank develops the LyPay mobile payment service.
The anti-usury law and no revolving credit
A conventional credit card charges interest on the balance carried over, which Law No. 1 of 2013 forbids. Libyan banks therefore offer no interest-bearing credit line, and the rare deferred-payment formulas are structured without interest.
Debit cards from Libyan banks
Jumhouria Bank, Wahda Bank, Sahara Bank and Aman Bank issue cards linked to a current account in dinars. They are used for cash machine withdrawals and payments at retailers with terminals in Tripoli, Benghazi or Misrata.
Prepaid cards in foreign currency
For travel and online shopping, banks offer international prepaid cards loaded with dollars or euros. Topping them up depends on the Central Bank's exchange rules and on the official rate applied when the currency is bought.
Electronic payment born of cash shortages
The long queues outside branches during liquidity crises accelerated the use of payment terminals across the country. For Libyan retailers, accepting cards has become a practical way to attract customers who cannot withdraw cash.
LyPay, the Central Bank's service
Launched on 1 August 2024, LyPay allows transfers and payments from a phone. At the end of August 2024, its limits were raised to 1,000 LYD of transfers per day and 3,000 LYD of daily purchases, with further gradual increases announced.
Paying in instalments in Libyan shops
The real equivalent of card credit is a murabaha for consumer goods: the bank buys the item and the customer repays through salary deductions. Some retailers also offer fee-free instalments to their loyal customers.
Shopping online from Libya
Foreign websites often require an international card, hence the appeal of dollar prepaid cards. Local platforms increasingly accept bank wallets and LyPay, notably for top-ups with the operators Libyana and Al Madar.
Fees and exchange rates applied
A prepaid card carries issuance, top-up and sometimes conversion fees. The real cost depends mainly on the dinar's official rate and on any taxes on foreign currency purchases set by the Libyan authorities.
Fake bank messages targeting Libyan cardholders
Scams using fake bank messages target holders of Libyan cards with so-called account updates. No bank asks for your PIN or the code received by SMS over the phone or on social media.
How Libya compares with Morocco and Algeria
In Morocco, a Moroccan credit card with a revolving line exists at the major banks. Libya is closer to an economy of debit and prepaid cards, because of its mandatory Islamic framework.
Cards for companies and retailers
Libyan companies use business debit cards and payment terminals supplied by their bank. Retailers who take many card payments also build a useful track record that can support a future request for small business financing.
Foreign residents and cards
A resident foreign worker can open an account and obtain a debit card by presenting a passport, a residence permit and an employment contract. Access to foreign-currency prepaid cards may be subject to additional conditions.
Getting a bank card in Libya
- Open a current account in LYD at a Libyan bank with your ID and national number.
- Request the debit card linked to the account and activate the PIN at the counter or a cash machine.
- For use abroad, ask for an international prepaid card and load it with foreign currency under the current rules.
- Activate LyPay or the bank's mobile wallet to pay without cash.
- Check your statements regularly and report any unknown transaction to the bank without delay.
Fees on Libyan bank cards
| Fee | Card concerned | Depends on |
|---|---|---|
| Issuance or renewal | Debit or prepaid | Issuing bank |
| Foreign-currency top-up | Prepaid Visa or Mastercard | Official rate and currency taxes |
| Conversion abroad | International prepaid | Card network and bank |
| LyPay transfer | Mobile service | Limits set by the Central Bank |
What you need for a card in Libya
- Libyan ID card or passport with national number
- Proof of address or residence certificate
- Salary or income certificate for some products
- For a foreigner, passport, residence permit and employment contract
Bank card traps in Libya
- Believing an offer of an unlimited credit card sold on Facebook, which is really used to collect fees or bank details.
- Giving your SMS code to a fake adviser who claims to unlock a dollar prepaid card.
- Ignoring conversion and top-up fees, which can make a prepaid card far more expensive than expected abroad.
- Lending your debit card to a relative for withdrawals, which complicates any dispute in case of fraud.
Questions about credit cards in Libya
Can you get a real credit card in Libya?
Revolving credit cards with interest are incompatible with the 2013 anti-usury law. Libyan banks instead offer debit cards and international prepaid cards, as well as financing for specific goods through a murabaha contract.
How do you pay online on a foreign website?
The usual solution is a prepaid Visa or Mastercard loaded with foreign currency by your Libyan bank. Its use depends on the Central Bank's exchange rules and the limits set by each bank.
What is LyPay?
LyPay is the electronic payment service launched by the Central Bank of Libya in August 2024. It allows transfers and purchases from a phone, with daily, weekly and monthly limits that are being raised gradually.
Do Libyan retailers accept cards?
Increasingly, especially in the large cities, because repeated cash shortages pushed people towards electronic payment. In small southern localities, such as around Sabha, cash nonetheless remains very widespread for everyday purchases.