Regulatory Alerts2022-06-07
Central Bank of Libya Circular No. 208/2013
The Central Bank of Libya issued Circular Letter No. 208/2013 to mandate the adoption of the National ID as the primary identifier for individuals seeking loans or financing from commercial banks. The directive requires financial institutions to integrate validated data fields into their systems by September 2013 and obligate customers to complete and submit the attached Commercial and Individual Information Collection forms as mandatory supporting documents. These measures aim to strengthen the Libyan Credit Information Center’s database, thereby reducing credit risks for individuals, institutions, and companies operating within Libya.
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