Regulatory Alerts2022-06-07
Circular Letter No. 76/2013
The Central Bank of Libya issued Circular Letter No. 76/2013 to enforce compliance with Article 14 of the State Financial Law regarding account openings for government-affiliated entities from the General Treasury. The directive mandates that all commercial banks and interim administrative committees obtain prior written approval from the Ministry of Finance's Accounts Department before establishing any new accounts for these entities. This requirement aligns with previous regulatory circulars and addresses recent instances where banks bypassed the approval process, thereby ensuring strict adherence to national financial regulations.
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