Tripoli Hosts A Workshop on ISO 20022 Transition: From MT to MX Messages in SWIFT Systems
Tripoli, 9 February 2025
The Institute of Banking and Financial Training and Studies (IBFTS) organized a specialized workshop titled “Transition to ISO 20022: Understanding MX Messages and Adoption Strategies” at the Bab Al-Bahr Hotel in Tripoli. The workshop was attended by General Managers of banks, department heads, members of boards of directors, and experts in SWIFT systems.
The discussions highlighted the importance of transitioning to the MX standard in enhancing data accuracy, transaction speed, and regulatory compliance, while also addressing the technical challenges, system readiness, and infrastructure requirements facing banks during the transition process.
The workshop further served as a platform for constructive dialogue on the future of digital transformation in the Libyan banking sector, representing a significant step toward aligning local banking practices with international standards and global financial developments.
This initiative marks a qualitative leap, placing the Libyan banking sector on a clear path toward international financial integration and advancement.