Regulatory Alerts2023-09-21
Added · Updated
Central Bank of Libya Circular 11/2023: Regulations for Direct Foreign Remittances for Importing Manufactured Gold
The Central Bank of Libya mandates that Libyan banks may process direct foreign remittances for importing manufactured gold only if the importing company holds a valid CBLKEY code issued for at least two years. Remittances are restricted to specific correspondent banks, with a per-transaction limit of $12 million and an annual cap of $15 million per company. Importers must deposit the full invoice value plus a 7% guarantee in Libyan Dinars, submit original customs declarations within one month, and maintain exclusive banking relationships for these transactions.
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