2023-07-12

Circular 5/2016

The regulatory authority issued Circular 5/2016 to establish mandatory controls for quick remittance services, specifically MoneyGram and Western Union, alongside electronic banking cards. These regulations require financial institutions to implement standardized compliance procedures for transaction processing and card operations. Payment service providers must adhere to these guidelines to ensure regulatory conformity across all domestic and cross-border transactions.

Libya

Central Bank of Libya

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Circular 5/2016

Year: 2016

Controls regarding Quick Remittances (MoneyGram, Western Union) and Electronic Banking Cards.

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