Regulatory Alerts2023-07-12
Central Bank of Libya Circular No. 18/2012
The Central Bank of Libya issued Circular No. 18/2012 to instruct commercial banks on the removal of the previously mandated $500 minimum threshold for issuing prepaid electronic cards. Building upon prior circulars and periodic letters, the directive permits banks to issue these cards at any amount they deem appropriate, thereby supporting the national electronic payment culture. This regulatory update applies to both Libyan Dinar and foreign currency accounts, streamlining card issuance for tourism, plastic, and general electronic payment purposes.
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