Regulatory Alerts2022-06-07
Periodic Letter (5/2015)
The Central Bank of Libya issued Periodic Letter (5/2015) to formally instruct commercial banks and their interim administrative committees to reject all transactions involving the Ministry of Defense, the military institution, and its affiliated entities unless personally signed by the Chairman of the Supreme Defense Council. This directive operationalizes a request from the Supreme Defense Council, dated December 31, 2014, to enforce strict authorization protocols for defense-related financial operations. Banks are required to immediately implement these verification measures and retain copies of the directive for compliance monitoring.
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