Regulatory Alerts2023-07-12
Circular 13/2022: Instructions for Calculating Capital Adequacy for Islamic Banks
The Central Bank of Libya issued Circular 13/2022 to mandate the implementation of capital adequacy calculation instructions for Islamic banks in accordance with IFSB standards and Basel II requirements. The directive requires commercial banks operating in Libya to comply with these regulatory controls starting March 31, 2023, with a transition period for data submission ending June 30, 2023. It establishes the framework for measuring credit, market, and operational risks using standardized and basic indicator approaches to ensure alignment with international banking standards.
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