Regulatory Alerts2024-06-24
Circular 4/2024
The Central Bank of Libya issues Circular 4/2024, mandating licensed banks and exchange houses to comply with updated foreign currency transaction reporting standards and monetary policy directives. The directive integrates prior January 2024 guidelines, establishes mandatory compliance deadlines, and clarifies procedural obligations for all regulated financial entities. Full implementation takes effect immediately upon issuance, ensuring standardized reporting across the national banking sector.
CENTRAL BANK OF LIBYA – MONETARY AND EXCHANGE DEPARTMENT Circular 4/2024 Date: February 16, 2024 Reference: Circular No. (2024/02) and Reference No. 669/2/5 Subject: Regulatory Guidelines for Financial Institutions This circular establishes updated compliance and operational requirements for licensed banks and exchange houses regarding foreign currency transactions, reporting standards, and monetary policy adherence. It incorporates directives issued on January 26, 2024, and clarifies procedural obligations for all regulated entities. All relevant institutions must adhere to the specified reporting formats and deadlines outlined herein, with full implementation effective immediately upon issuance. Contact Information: www.cbl.gov.ly | SWIFT Code: CBLJLYLX | Telephone: +218 21 444 1488 | Fax: +218 21 333 3591