Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 56/2015
The Central Bank of Libya issued Circular Letter No. 56/2015 requiring all commercial banks operating in the country to obtain prior regulatory approval for foreign currency transactions related to supplying ready-mixed cement. This temporary directive applies uniformly across commercial banks, their interim administrative committees, and the Libyan Foreign Bank under Law No. 1 of 2005. The measure enforces existing supervisory instructions to ensure centralized oversight of cement sector foreign currency flows.
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