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Libya Cash & Markets Working Group (CMWG)
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Financial Service Providers Matrix - 3rd of May 2018
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N°CriteriaMasarat IT & TelecomAlmadar AljadeedTafani Telecom & ITUmbrella Financial Services LCCItmar Company
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1ProductMobile Money (Application, SMS) Sadad Mobile Payment (Application, USSD) Joint Mobile Money Service (Application, SMS)Prepaid Card
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2Establishment 2005 Almadar - 1995 Sadad Service - 2017201220162009 Descendant of ICC.
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3AboutFinancial service provider and development company1st Mobile Operatior in Libya & North Africa offering movile servicesAnni service the main provider of electronic payments for mobile units (Top-up)Technical partner providing electronic solutionsBanking and Financial Services
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4Years of Experience12 years23 years in mobile services, less than a year for Mobile Money Service 6 yearsAlmost 2 years3 years
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5Regulatory Framework and legal RequirnmentsA three party contract with a bank, The bank's presence in the contract will cover all the legal aspects and regulatory requirementsA governmental company certified from CBL, has an agreement with CBL to offer mobile money services (Sadad)Commercial License No . 4532303 CBL:400/2016Commercial LicenseNo . 5481105 CBL: Solution provider Commercial Registry No 14733
Chamber of Commerce Registry No 279
Ministry of Finance Registration No 010414733  Central Bank of Libya Authorization No 400/2016
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6Number of subscribers867,534 subscriber in 213 branch in 35 city18k subscribers 67 subscribers including 2 companies/
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7KYC Requirnments For Libyans: Name, NID ,ID copy or Passport copy, Address , photo , telephone number* ). - A Libyan National ID - A valid passport
-Filled application form - Almadar phone number 		Name and/or Serial Number, Phone number For Libyans: Only National ID Number, and personal Identification is required,
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For non-Libyans: Passport copy , Document issued by International entity licensed to work in Libya , photo , address ,telephone number* .*(Sadad currently is offered for Libyan Nationals only)For Non-Libyans:
-Registration With UN Certified Organization.
-Organizations must be registered with Libyan Foreign Ministry.
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8Geographical CoverageBenghazi, Ajdabiya, Ra’s Lanuf, Bayda, Marj, Derna, Tobruk, Bin Jawad, Jalu, Oujla, Zliten, Misrata, Khoms, Yefren, Qilaa)./All CitiesAll Cities
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9Number of Agents 235 agents from bank branches
All branches of Almadar in most cities
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10Number of Points of Sale PoSs2453001700Over 3000
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11Account capacity / RegistrationUnlimited Up to 2 million walletsUp to 1000000 Accounts /Package .Issuing 20000 Cards Per Week
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12Current System Capacity1.5M Transaction, up to 2M/Unlimited/
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13Data Protection 1-Data encryption using high standard encryption protocols. 2- Contract with IT security company to get its ISO 27001 certificate.Confidentiality of data isensured by using ANSIX9,ISO certified bank level security encryption algorithms including Diffie-Hellman,AES,RSA,SHA,TripleDES,ECC using 128-bit,256-bit,512-bit…with SymmetricorAsymmetric encryption as required..
•Integrity of all messages and processes is ensured byusing Message Digests and Hashes with secure algorithms like MD5,SHA,BLAKE&RIPEMD		 -Luhn algorithm is employed for verification of iCash account numbers.
- OTP One Time Passcodes are implemented
- Policy on PINS length
- Reset of PIN without knowledge of old PIN is only allowed by personal human verification (by the operator employees)
- Encryption and SSL is used wherever needed
- No data is stored on users’ devices
- K18Data is backed-up and access is restricted with multi-factor authentication
IPsec, Internet Key Exchange, Transport Layer Security (TLS), SSL sertificate.
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14Risk and Security Management Protocols firewalls, DLP, IPS, UTM, SIEM, etc..Compliance with international best practices (ISO/IEC 7812 & ISO 12812)
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15ReportingUp to the client's needsSadad system has the ability to give a secure VPN connection for organizations to monitor and track corresponding transactionsUp to the client's needsReporting each Transaction with Card Balance Through SMS
Report of POS Transaction and total use every week
Report of Card Statement on demand
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