Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 2013/43
The Central Bank of Libya issued Circular Letter No. 2013/43 to reinforce the regulatory prohibition on foreign currency transactions for private entities. The directive explicitly instructs commercial banks and their temporary administrative committees to reject and return all foreign currency purchase and transfer requests submitted by private legal entities. This measure strictly enforces Article 4 of Governor Decision No. 1/2013 and Circular No. 2013/1, ensuring full compliance with Law No. 1/2005 concerning Banks.
Central Bank of Libya P.O. Box 1103 - Postal Address: Central Bank of Libya - Tripoli - Libya
Reference: 804 / M Circular Letter No. (2013/43) Date: 16 Rabi' al-Thani 1433 AH Corresponding to: February 26, 2013 AD
To: General Managers of Commercial Banks To: Heads of Temporary Administrative Committees of Commercial Banks To: General Manager of the Libyan Foreign Bank
Greetings,
Pursuant to the provisions of Law No. (1) of 2005 concerning Banks and its amendments.
And with reference to Circular No. (2013/1) issued on February 1, 2013, which was submitted pursuant to Decision No. (1) of 2013 of the Governor of the Central Bank of Libya regarding the regulation of dealings in new currency and the definition of powers to execute foreign exchange transfers for various purposes, which stipulated in its Article No. (4) the prohibition of the Bank Supervision and Execution Department from processing requests for the purchase and transfer of foreign currency submitted by private legal entities.
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities,
And in response to requests that are returned by the Bank Supervision and Execution Department regarding foreign currency purchase and transfer requests submitted by private legal entities......{