Central Bank of Libya

P.O. Box 1103, Telegraph Address, Libya - Tripoli, Libya

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Circular No. (2/ 2015)

Date: 21 Rabi' al-Thani 1435 AH
Corresponding to: 11/02/2015 AD

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To: The General Managers of Commercial Banks

To: The Heads of Interim Administrative Committees of Commercial Banks

To: The General Manager - Libyan Foreign Bank

Greetings,

Based on the provisions of Law No. (1) of 2005 concerning Banks and its amendments, and the supervisory and regulatory role exercised by the Central Bank of Libya over commercial banks, in accordance with the law's provisions.

And referring to Circular No. A.R.M. (1) of 2013, issued on 02/01/2013, regarding which the decision of the Governor of the Central Bank of Libya No. (1) of 2013, issued on 01/01/2013, governs the regulation of foreign currency transactions and defines the powers to execute external transfers for various purposes.

We inform you of the issuance of the decision of the Governor of the Central Bank of Libya No. (32) of 2015, dated 10/02/2015, concerning the repeal of Article Two in the Governor's decision No. (1) of 2013 and the addition of a provision.

And as we enclose herewith a copy of the decision of the Governor of the Central Bank of Libya No. (32) of 2015 mentioned above, you are requested to take the necessary measures for its implementation.

Peace, mercy of God and blessings be upon you.

"Abd al-Majid Muhammad al-Jafouri"

Director of Banking and Currency Supervision / Acting

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Note:

• Copy to (any)
• Mr. / Deputy Governor
• Gentlemen/ Managers of branches of the Central Bank of Libya (Benghazi - Sabha - Sirte)
• Mr. / Director of Legal Affairs at the Central Bank of Libya
• Mr. / Director of Information and Settlements Department
• Mr. / General Manager of Al-Sayyada Medical Services Company
• Gentlemen/ Managers of Departments and Units at the Committees (Reference, Audit, Anti-Money Laundering)
• Data Department by Statistics
• Follow-up Administrative Section at the Audit Committee

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www.cbl.gov.ly swift code:CBLJLYLX +218 21 444 1488 : Fax +218 21 333 3591 : Phone

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Central Bank of Libya

P.O. Box 1103, Telegraph Address, Libya - Tripoli, Libya

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Decision of the Governor of the Central Bank of Libya No. (32) for 2015

Repealing an Article in the Governor's Decision No. (1) of 2013, and Adding a Provision

Governor of the Central Bank of Libya

Having reviewed the Constitutional Declaration, issued by the National Transitional Council, on 3 Ramadan 1432 AH, Corresponding to 03/08/2011 AD, and its amendments. And Law No. (1) of 2005 concerning Banks and its amendments. And the administrative organization of the Central Bank of Libya. And the decision of the Board of Directors of the Central Bank of Libya No. (20) of 2014, concerning the regulations governing the import and export of local and foreign currency to and from Libya. And the decision of the Governor of the Central Bank of Libya No. (1) of 2013, concerning the regulation of foreign currency transactions and defining the powers to execute external transfers for various purposes.

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Report

Article One

Article Two of the Governor's decision No. (1) of 2013 concerning the prohibition of
commercial banks' powers to execute external transfers for financing the import of agricultural supplies and equipment, information technology equipment, computer supplies, medicines, and medical supplies is repealed.

Article Two

Commercial banks shall direct their clients from companies specialized in importing agricultural supplies and equipment, information technology equipment, computer supplies, medicines, and medical supplies, to open confirmed letters of credit, in accordance with standard banking procedures, and the regulations and instructions issued by the Central Bank of Libya governing the same.

Article Three

This decision is effective from the date of its issuance, and the Banking Supervision Department shall take the necessary measures for its implementation.

Omar Al-Kabir
Governor

Issued on: 10/2/2015 AD

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www.cbl.gov.ly, swift code:CBLJLYLX, +218 21 444 1488 : Fax, +218 21 333 3591 : Phone