Regulatory Alerts2023-07-12
Central Bank of Libya Circular No. 13/2012 on Prepaid Plastic Cards
The Central Bank of Libya issued Circular No. 13/2012 to resume and regulate the issuance of prepaid plastic cards by commercial banks. The circular authorizes banks to activate these cards against foreign currency-denominated accounts, provided the accounts are properly equipped, legally unfrozen, and funded through permitted sources. All issuing banks must submit monthly statistics to the Banking and Currency Supervision Department detailing card issuance volumes and corresponding values.
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