Regulatory Alerts2023-07-12
Central Bank of Libya Circular 2/2015
The Central Bank of Libya issued Circular 2/2015, enclosing Governor's Decision No. 32 of 2015, to repeal Article Two of its 2013 Decision and remove the prohibition on commercial banks executing external transfers for financing imports of agricultural supplies, IT equipment, computers, medicines, and medical goods. Commercial banks are now required to direct specialized clients to open confirmed letters of credit in accordance with standard banking procedures and Central Bank regulations. The Banking Supervision Department is tasked with enforcing these measures, which took effect on February 10, 2015.
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