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.
Central Bank of Libya
P.O. Box 1103 | Telex Address: CBLJLYLX - Tripoli, Libya
Reference No.: R.M/N 804
Circular Letter No. RM/N (2013/200)
Date: 30 Muharram 1435 AH ...
Corresponding to: 04 December 2013 AD ...
To: The General Managers of Commercial Banks
To: The Chairmen of the Administrative Committees of Commercial Banks
To: The General Manager - Libyan External Bank
Greetings ...
This Administration has received a letter from the Minister of Justice of the Libyan Interim Government, Reference No. 4-35-4745 dated 19 November 2013, addressed to the Governor of the Central Bank of Libya. The letter refers to Law No. (36) of 2012 concerning the management and custody/seizure of assets and properties of certain persons, and Law No. (47) of 2012 amending Law No. (36) of 2012, issued by the National Transitional Council. It further refers to Article (17) of the aforementioned law, which stipulates: "Exempt from the provisions of this Law are wages and salaries, and anything similar thereto, as well as pensions paid to the persons referred to in Article One of this Law."
And with reference to Circular Letter No. (2012/175) dated 28 June 2012, concerning the instructions of the Governor of the Central Bank of Libya to take the aforementioned article into consideration when reviewing applications related to the withdrawal of salaries, wages, or pensions deposited in your banks' accounts.
In response to the request of the Minister of Justice of the Libyan Interim Government, as referenced above, you are requested to take the necessary measures to implement its provisions.
Peace, mercy of Allah, and blessings be upon you ...
" Abdulmajid Mohammed Al-Maqouri "
Director of the Banking and Currency Supervision Department / Monetary Rewards
Copies to:
To the Governor
To the Deputy Governor
To the Undersecretary of the Ministry of Justice
To the Banking Follow-up and Compliance Department
Mohammed / 18
www.cbl.gov.ly | SWIFT Code: CBLJLYLX | Fax: +218 21 444 1488 | Tel: +218 21 333 3591
State of Libya
Ministry Office
Ministry of Justice
Date: 19 November 2013
File No.: 4745-35-4
Respected Sir // Governor of the Central Bank of Libya
Greetings ...
With reference to Law No. 36 of 2012 concerning the management and custody/seizure of assets and properties of certain persons, and its amendments.
And regarding the requests and correspondence submitted by families of persons subject to the custody/seizure law, concerning applications for the release of salaries and pensions.
And in application of Article Seventeen of the aforementioned law, which stipulates the exemption of wages and salaries, and anything similar thereto, as well as pensions paid to persons whose assets are placed under custody/seizure.
Therefore ... we hope for the re-issuance of a circular to banks regarding compliance with the provisions of the aforementioned law.
Thanking you for your cooperation
Peace, mercy of Allah, and blessings be upon you
Saleh Bashir Al-Maraghi
Minister of Justice
Minister's Office
Ministry of Justice
3964
From:
To the General Manager.
Amina 2013 AD
/ Omar
Central Bank of Libya
Banking and Currency Supervision Department
Director's Office
27 November 2013
Resources No. Exchange/672