Regulatory Alerts2023-11-09
Central Bank of Libya Circular No. 7/2023 on Improving Banking Services Quality
The Central Bank of Libya issued Circular No. 7/2023 mandating banks to enhance service quality by implementing responsible electronic marketing, expanding and maintaining ATMs and POS terminals, ensuring daily liquidity, providing cheque books within three working days, standardizing branch appearances, and strengthening customer financial awareness and deposit protection. Banks must submit their 2023 Strategic Plan to operationalize these directives by 31 March 2023, after which the Banking and Currency Supervision Department will evaluate compliance through executive management and board oversight.
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