Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 2013/200 on Salary and Pension Exemptions Under Law No. 36 of 2012
The Central Bank of Libya issued Circular Letter No. 2013/200 instructing commercial banks and the Libyan External Bank to implement Article 17 of Law No. 36 of 2012 (as amended by Law No. 47 of 2012), which exempts the salaries, wages, and pensions of persons whose assets are under state custody or seizure. The directive responds to a formal request from the Minister of Justice and mandates that banks prioritize the release and withdrawal of these exempt funds from affected accounts, in accordance with previous supervisory instructions. Banks are required to apply these exemptions to pending requests and ensure compliance through their administrative committees and internal follow-up departments.
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