Central Bank of Libya Circular Letter No. 3/8/2013 Regarding Prior Approval for Treasury-Funded Accounts

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Central Bank of Libya P.O. Box 1103 | Telegraph Address: Central Bank of Libya - Tripoli - Libya

Reference: 10/RM/716/J14 Circular Letter No. (3/8/2013) Date: 4 Rabi' al-Awwal 1434 AH / 16 January 2013 AD

To: Chairmen of Temporary Administrative Committees for Commercial Banks General Managers of Commercial Banks General Manager, Libyan Foreign Bank

Greetings,

We have received from this Department a letter from the Deputy Minister of Finance of the Interim Government, bearing Reference No. M. 23.019 dated January 1, 2013, addressed to the Governor of the Central Bank of Libya. The letter refers to Article (14) of the State Financial Law, which "does not permit opening any accounts for entities funded by the General Treasury except after obtaining prior approval from the Ministry of Finance," and requests, accordingly, that commercial banks operating in Libya be circularized not to open any accounts for entities funded by the General Treasury except after obtaining prior approval from the Accounts Management Department at the Ministry of Finance.

Based on the provisions of Circular No. (2009/13) issued on December 1, 2009, which circulated the decision of the Board of Directors of the Central Bank of Libya No. (36) for the year 2009, issued on November 5, 2009, regarding the rules governing the opening of bank accounts at commercial banks.

Accordingly, we enclose a copy of the aforementioned letter from the Deputy Minister of Finance for your information, compliance, and implementation.

Peace, mercy, and blessings of God be upon you,

"Dr. Mohamed Abdul Jalil Abusnina" Director, Banking and Currency Supervision Department

Copies to: The Governor / The Deputy Governor / The Deputy Minister of Finance / For the Banking Follow-up and Compliance Monitoring Department Ref: CBL/Amal 22/2/Circular 2/2013 Phone: +218 21 3591 333 | Fax: +218 21 444 1488 | Swift Code: CBLJLYLX | www.cbl.gov.ly

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Libyan Interim Government Ministry of Finance Date: January 1, 2013 Reference: 019.23.M

To: The Deputy Governor of the Central Bank of Libya

Greetings,

Reference is made to Article {14} of the State Financial Law, which does not permit opening any accounts for entities funded by the General Treasury except after obtaining prior approval from the Ministry of Finance.

Accordingly, we request that you circularize commercial banks operating in Libya not to open any accounts for government entities without approval from the Accounts Management Department at the Ministry of Finance.

Accept our highest respect and greetings, Peace be upon you,

Mu'azzam Ghayth Sulaiman Deputy Minister of Finance

Copies to: / Minister of Finance / Director, Treasury Department / Director, Banking Operations Department / Director, Accounts Department Revenue Division at the Ministry