Evaluating the reality of cyber risk management in Libyan banks in accordance with international standards"An Exploratory study on the National Commercial Bank"

Abstract

The study aimed to evaluate the reality of cyber risk management in Libyan banks according to some local and international indicators, through field visits and relying on personal interviews, then evaluating its reality in the National Commercial Bank in accordance with international standards and recommendations. A sample of officials and specialists was chosen to survey their opinions on cyber risk management in the bank,  Through a questionnaire, designed to contain questions formulated according to selected points from international standards and recommendations. The most important indicators, through local and international reports, have shown that there is a deficiency in Libyan banks in adhering to international standards, and a lack of professional capabilities specialized in cyber risks. While the responses of the participants in the questionnaire indicated that the National Commercial Bank is somewhat committed to international recommendations and standards, despite the researchers noting the lack of commitment to some recommendations, such as the presence of committees specialized in risk management, a clear plan for governance, and the lack of professional capabilities specialized in managing these risks.