Regulatory Alerts2022-06-07
Circular Letter No. 01/2013
The Central Bank of Libya issued Circular Letter No. 01/2013 to extend manual clearing operations and the acceptance period for high-value checks (exceeding 250 million Libyan Dinars) through the ACP electronic clearing system until March 2013. This extension applies to public entities and commercial banks that have not yet fully adapted their internal systems to comply with ACP rules, ensuring uninterrupted time-bound salary transfers and branch connectivity. The directive mandates that all commercial banks and the Libyan Foreign Bank maintain these provisional clearing arrangements while finalizing system upgrades.
Central Bank of Libya
P.O. Box 1103 | Telegram Address: Masarifiba - Tripoli, Libya
Reference: MR/N 804
Circular Letter No. MR/N (2013/1)
Date: 20 Sha'ban | Corresponding: 02 January 2013
To: General Managers of Commercial Banks
To: Heads of Interim Administrative Committees of Commercial Banks
To: General Manager of the Libyan Foreign Bank
In the Name of Allah, the Most Gracious, the Most Merciful
With reference to our Circular Letter No. MR/N (2012/19) dated 22 July 2012, regarding the implementation of electronic and manual clearing rules in all commercial banks.
And with reference to our Circular Letter No. MR/N (2012/24) issued on 16 October 2012, regarding the extension of the acceptance period for checks issued by the Ministry of Finance and its affiliated entities, which exceed 250,000,000 Libyan Dinars (Two Hundred Fifty Million Libyan Dinars), until the end of December 2012 for public entities only that have not yet adapted their systems to comply with the electronic clearing system (ACP) rules.
Since the necessary procedures to adapt currently applied systems to comply with the electronic clearing system (ACP) rules are not yet complete, and considering the time-bound procedures for salary transfers, and to enable banks to connect all their branches to the banking system, based on instructions from the Deputy Governor, it has been decided to extend manual clearing operations and the acceptance period for high-value checks through the (ACP) system until the end of March 2013.
Dr. Mohamed Abduljalil Abousineen
Director of the Banking and Currency Supervision Department
Copies to: The Governor
Copies to: The Deputy Governor
Copies to: The Undersecretary of the Ministry of Finance
Copies to: The Director of Banking Operations Department
Copies to: The Head of the Electronic Clearing Project Team
Copies to: The Manager of Service Provider and Applications, Central Bank of Libya
Copies to: Banking Follow-up and Compliance Monitoring Department
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www.cbl.gov.ly swift code:CBLJLYLX +218 21 444 1488 : fax +218 21 333 3591 : phone