Regulatory Alerts2022-06-07
Central Bank of Libya Periodic Letter No. 173/2017
The Central Bank of Libya, through Periodic Letter No. 173/2017 issued on October 9, 2017, mandates that commercial banks must obtain prior approval from the Central Bank before relocating their headquarters, branches, or agencies to new municipal jurisdictions. This directive addresses recent operational disruptions caused by uncoordinated bank relocations that have triggered traffic congestion and administrative friction with local municipal councils. Banks are required to submit documented proof confirming that no conflicting relocation permits have been issued by the relevant municipal council before proceeding with any physical move.
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