Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 2014/101
The Central Bank of Libya extends the operational validity of high-value checks exceeding 250,000.000 LYD processed through the ACP system for public sector entities until June 2015. This directive, issued by the Acting Director of Banking and Currency Supervision, formally updates previous circulars from 2012 and 2014 to align the acceptance deadline with mid-2015. Commercial banks and internal operational departments are required to implement this extension immediately across all applicable clearing transactions.
Central Bank of Libya P.O. Box 1103 | Telegram Address: CBLibya - Tripoli - Libya
Reference: 1/A.R.M./804
Circular Letter No. (2014/101) Date: 17 Safar 1436 AH... Corresponding to: 10 December 2014 AD....
To the General Managers of Commercial Banks To the Heads of Temporary Administrative Committees of Commercial Banks To the General Manager - Libyan Foreign Bank
Greetings,
With reference to our Circular Letter No. (A.M.N 2012/191) dated 22 July 2012, regarding the submission of electronic and manual clearing rules for implementation in all commercial banks. And our Circular Letter No. (2014/31) dated 1 April 2014, regarding the instructions of the Deputy Governor of the Central Bank of Libya concerning the extension of the operation of high-value checks exceeding (250,000.000 LYD) through the (ACP) system for public sector entities only, until the end of December 2014.
And with reference to the letter from the Director of Payments and Settlements Department at the Central Bank of Libya dated 3 December 2014, regarding the approval to extend the acceptance period for high-value checks exceeding (250,000.000 LYD) through the (ACP) system for public sector entities only until the end of June 2015.
We inform you of the Central Bank of Libya's approval regarding the extension of the operation of high-value checks exceeding (250,000.000 LYD) through the (ACP) system for public sector entities only, until the end of June 2015.
Peace, mercy and blessings of God be upon you,
" Abdulmajid Mohammed Al-Maqouri " Director of Banking and Currency Supervision Department / Acting
Copy to // To the Governor To the Deputy Governor To the Director of Banking Operations Department, Central Bank of Libya To the Director of Payments and Settlements Department, Central Bank of Libya To the Director of Service Provider & Applications Department, Central Bank of Libya To the Head of the Electronic Clearing Project Team To the Banking Follow-up and Compliance Monitoring Department
- A. Al-Gailani Circular Letters 26