Regulatory Alerts2022-06-07
Central Bank of Libya Periodic Letter (133/2013)
The Central Bank of Libya issued Periodic Letter (133/2013) to require commercial banks operating in Libya to amend their internal Anti-Money Laundering (AML) units and ensure they operate independently in compliance with Laws No. 1 and 2 of 2005 and Resolution No. 2 of 2008. The directive mandates that banks submit a formal report confirming these structural adjustments and strictly adhere to the Central Bank’s main financial information unit regarding timely responses to governor-issued renewal decisions. This administrative order, supported by the Audit Bureau’s supervisory letter, standardizes AML compliance frameworks across Libyan commercial banking operations.
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