Central Bank of Libya

P.O. Box 1103 | Telegram Address: CBL - Tripoli, Libya Reference No.: R.M/N 804 Circular Letter No. 62/2015 Date: 29 Rajab 1436 AH Received: 18 May 2015 AD

To: General Managers of Commercial Banks
To: Chairmen of Board Committees of Commercial Banks To: General Manager - Libyan Foreign Bank

Greetings...

Based on the provisions of Law No. (1) of 2005 concerning Banks and its amendments, within the supervisory and regulatory role exercised by the Central Bank of Libya over commercial banks operating in Libya.

In line with measures aimed at achieving stability in the banking sector and the national economy generally, and to provide essential goods and operational supplies needed to meet citizens' requirements.

We inform you that the Central Bank of Libya has received a letter from the Deputy Minister of Economy, Reference No. (1452,2,5), dated 13/05/2015 AD, which enclosed the decision of the Minister of Economy No. (147) of 2015 AD, concerning a temporary ban on the importation of certain goods under documentary credits for a period of six months from its date.

And as we attach for your information the aforementioned letter from the Deputy Minister of Economy and its enclosed decision, you are requested to implement it and inform your bank customers accordingly.

Peace, mercy of Allah and blessings be upon you...

"Abdulmajid Muhammad Al-Maqouri"
Director of Banking and Currency Supervision Department / Acting

Copies to:
To: The Deputy Governor.
To: The Chairman of the Committee for Covering Bank Accounts Abroad.
To: The Director of the Accounts Department at the Central Bank of Libya.
To: Directors of Departments and Units at the Bank (Benghazi – Sabha – Brak).
To the Egyptian Follow-up Department and Compliance Monitoring Section.
M/Fb / Circular Letters

www.cbl.gov.ly, SWIFT Code: CBLJLYLX, Fax: +218 21 444 1488, Tel: +218 21 333 3591

Government of National Accord Ministry of Economy Office

Date: 24/7/1436 AH
Reference Date: 13/5/2015 AD
Reference No.: 1452,2,5

To: The Deputy Governor of the Central Bank of Libya To: The Chairman of the Banking Council To: The Chairman of the General Union of Chambers of Commerce To: The Chairman of the Council of Business Owners To: Economic Observers and Directors of Service Offices in Municipalities

Subject: Circular of the Minister of Economy Decision No. (147) of 2015 AD concerning the ban on importing certain goods

We enclose for you the Minister of Economy Decision No. (147) of 2015 AD concerning a temporary ban on importing certain goods under documentary credits for six months from its date. We hope you implement the decision's provisions and coordinate to ensure the importation of goods, foodstuffs, raw materials, and operational supplies for local factories whose production is linked to the basic needs of citizens.

Peace, mercy of Allah be upon you

Dr. Fathi Ahmad Al-Dahoub
Deputy Minister of Economy

To: Chairman of the Financial Committee at the General National Congress.
To: Chairman of the Council of Ministers.
To: Chairman of the Court of Audit.
To: Chairman of the Administrative Inspection Authority.
To: The Inspector General.
M/N-W

www.info@economy.gov.ly - info@economy.gov.ly
Registration Office, South Libya 4779 ☎ +218 21 453 1731

Government of National Accord Ministry of Economy

Minister of Economy Decision No. (147) of 2015 AD concerning a temporary ban on importing certain goods

Minister of Economy:

• Having reviewed the Constitutional Declaration and its amendments.
• And the State Financial System Law, Budget Committee, Accounts and Stores Law, and its amendments.
• And Law No. (23) of 2010 AD concerning Commercial Activity and Food Regulations.
• And Law No. (12) of 2010 AD concerning the issuance of Labor Relations and Food Regulations.
• And General National Congress Resolution No. (44) of 2014 AD concerning "Emergency State and General Mobilization" and entrusting the Head of the Government of National Accord.
• And General National Congress Resolution No. (46) of 2014 AD concerning preventing the suspension of the Government of National Accord's arbitration.
• And Council of Ministers Resolution No. (368) of 2013 AD approving the Organizational Statute and competencies of the Ministry of Economy and organizing its administrative apparatus.
• And Council of Ministers Resolution No. (188) of 2012 AD issuing the explanatory memorandum for Chapter Eight of Commercial Activity Law No. (23) of 2010 AD concerning regulations governing export and import.
• And based on meetings held with the Financial Committee of the General National Congress and in coordination with the Central Bank of Libya.
• And the letter from the Central Bank of Libya Office No. (1211) dated 29/4/2015 AD regarding the determination of goods to be banned from import under documentary credits.
• And in exercise of general authorities.

DECIDED

Article (1)
The importation of certain goods under documentary credits is banned for a period of six months, which include:

(1) Vehicles and means of transport (new or used) (2) Motorcycles and bicycles (3) Marine boats (steam motors) (4) Cosmetics, perfumes, and deodorants (5) Recreational goods (6) Games and sports equipment (7) Textiles and paper goods (8) Vehicle accessories (9) Leathers of all types (10) Fishing weapons and fireworks (11) Wooden and iron poles (12) Sanitary materials, marble, tiles, and ceramics (13) Furniture of all types (14) Carpets and rugs (fabrics, curtains, and accessories) (15) Leather and industrial drugs, excluding pharmaceuticals (16) Reinforcement steel (17) Mobile phones, devices, and accessories (18) Household and government furniture (19) Cinema and workshop equipment (20) Industrial products (non-natural), canned and prepared for human consumption. (21) Chocolate and biscuits of all types (excluding raw chocolate used for manufacturing purposes). (22) Artificial fruit powders (23) Leather goods, beverages, fresh and dried fruits, and pickles (24) Potato chips and extruded pasta (25) Carbonated and mineral waters (26) Polystyrene (plastic) and industrial soap (27) Equipment of all types (28) Compressors/pumps (29) Olive oil (30) Harissa (pepper paste) (31) Soft drinks (32) Canned goods and ready-to-eat foods (33) Vessels made of pottery and plastic (34) Household materials used for decoration (35) Electrical materials (washing machines, refrigerators, microwaves, fruit mixers, vacuum cleaners) (36) Electrical devices, recorders, amplifiers, DVD computers, and export equipment (portable and stationary of all types) (37) Household appliances over 50 inches, chandeliers of all types

Article (2)
This decision shall be implemented from the date of its issuance, and those addressed by its provisions are responsible for its execution.

Dr. Sulaiman Abdullah Al-Ajili
Minister of Economy

Issued in: 1436 AH / ... / ...
Reference Date: 13/5/2015 AD
Tripoli