Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 10/2012
The Central Bank of Libya issued Circular Letter No. 10/2012 instructing all commercial banks and the Libyan Foreign Bank to facilitate the opening of current accounts for National Army members. This directive aligns with recent agreements between the Ministry of Finance and the Supreme Committee for Activating the National Army to replace cash salary disbursements with bank-directed incentive payments effective January 2012. Banks are required to process these account openings in strict compliance with existing Central Bank regulations governing current account management and attach the referenced correspondence for operational guidance.
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