Regulatory Alerts2022-06-07
Central Bank of Libya Periodic Letter (2012/7)
The Central Bank of Libya requires commercial banks, interim administrative committees, and the Libyan Foreign Bank to urgently submit statements detailing open, settled, and committed Letters of Credit by goods category for the period from September 2011 to January 10, 2012. This directive prioritizes basic and essential imported goods while excluding seven specific categories previously identified by the Economic Affairs Department. Banks must provide this data as soon as possible to ensure compliance with the Governor's instructions on implementing documentary credits for imports.
Central Bank of Libya P.O. Box: 1103, Telegram Address: Misr Libya - Tripoli, Libya
Reference: I.R.M.N / 804
Periodic Letter I.R.M.N No. (7 / 2012) Date: 15 Safar 1433 AH Corresponding to: January 10, 2012 AD
To: General Managers of Commercial Banks To: Heads of Interim Administrative Committees of Commercial Banks To: General Manager - Libyan Foreign Bank
With greetings,...
With reference to our Periodic Letter No. (2011/19) dated September 29, 2011, pursuant to which the Governor's instructions were circulated regarding the necessity of taking necessary measures concerning the implementation of Letters of Credit for importing goods, with priority given to basic and essential goods approved by the Economic Affairs Department.
And with reference to our Periodic Letter No. (2011/182) dated November 23, 2011, concerning taking necessary measures to open Letters of Credit for supplying all goods submitted by suppliers, except (7) categories of goods mentioned in the letter from the Head of the Economic Affairs Department No. (990/ط/2011) dated November 16, 2011.
Therefore, you are urgently requested to provide us with a statement of open Letters of Credit by goods category, settled Letters of Credit, and the existing commitments against these Letters of Credit, for the period from September 2011 to the date of this letter.
For importance, the required data is requested to be submitted as soon as possible.
Peace, mercy, and blessings of God be upon you,...
Dr. Muhammad Abduljalil Abu Sanina Director of the Department of Banking and Currency Supervision
Copy to: The Governor Copy to: The Deputy Governor Copy to: Data and Statistics Department