Regulatory Alerts2024-02-01
Central Bank of Libya Circular No. 29/2023
The Central Bank of Libya issued Circular No. 29/2023 to modify the targeted sectors eligible for partial coverage when opening Letters of Credit. The circular updates specific requirements across five key industries—manufacturing, agriculture, healthcare, transport, and oil—and mandates compliance with an attached schedule detailing eligible machinery, raw materials, and equipment. This directive supersedes previous circulars from 2022 and 2023, establishing a biannual review process to ensure the list remains current with operational needs.
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