Regulatory Alerts2022-06-07
Circular Letter No. 47 of 2014
The Central Bank of Libya, through Circular Letter No. 47 of 2014 issued by the Acting Director of Banking and Currency Supervision, mandates commercial banks to extend their check collection period via the ACP system from 48 hours to 72 hours. This directive responds to recent operational discussions between the bank's Payments and Settlements Department and commercial clearing centers regarding challenges in the electronic clearing system. All relevant banking executives, branch managers, and internal departments are instructed to implement these extended collection timelines immediately.
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