Regulatory Alerts2023-07-12
Circular 2010/2
The Central Bank of Libya issued Circular 2010/2 to formally extend the bank account opening regulations under Article Eight of Decision No. 36 (2009) to clubs, unions, associations, and equivalent entities, treating them identically to charitable institutions and civil associations. This directive standardizes supervisory requirements for these organizations, ensuring consistent compliance with existing commercial banking rules across the Great Jamahiriya. The circular mandates immediate implementation by all commercial banks and is distributed to internal regulatory departments, branch managers, and the General People's Committee for operational alignment.
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