Regulatory Alerts2022-06-07
Central Bank of Libya Periodic Letter No. 45/2014
The Central Bank of Libya issued Periodic Letter No. 45/2014 to implement Decision No. (5) of 2014, which mandates commercial banks and the Libyan Foreign Bank to pay a subscription fee on depositors' liabilities to fund the Deposit Insurance Fund. Calculated at 0.001 of total guaranteed deposits, the fee is bounded by a minimum collection threshold of 250,000 Libyan dinars and a maximum cap of 20,000,000 Libyan dinars. The decision takes effect immediately upon issuance and directs the relevant departmental directors to enforce compliance across all supervised institutions.
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