Central Bank of Libya Circular 6/2012: Outsourcing Check Printing

Central Bank of Libya

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

Judge: Arman / 804

Mentioned Mail No. (2012/6)
Date: 16 Rabi' al-Awwal
Corresponding to: 8/2/2012 AD

To: General Managers of Commercial Banks
To: Heads of Temporary Administrative Committees of Commercial Banks To: General Manager of the Libyan Foreign Bank To: General Manager of the Exchange and Financial Services Company

Subject: Printing of Checks by Commercial Banks

Greetings,

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

And with reference to Circular No. (2005/2) issued on 9/2/2005, concerning the issuance of certain instructions and controls organizing external outsourcing operations.

And in light of the minutes of the meeting held on 17/1/2012 at the office of the Deputy Governor of the Central Bank of Libya, regarding the study of forgery cases of some clearing checks presented to the electronic clearing system and the ordinary clearing chamber, and the study of proposals submitted by the head of the automatic check processing team.

And to what the aforementioned meeting concluded regarding recommendations to address certain issues, including the subject of delays in printing electronic checks and the problems resulting therefrom for bank customers.

Therefore, we inform you that you may proceed to print the approved checks of your banks at other companies selected by your banks, including the Exchange and Financial Services Company, to accelerate check printing, within the framework known as outsourcing.

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

Dr. Muhammad Abdul Jalil Abustit
Director of Bank Supervision Department and Delegate

Copy to: Mr. / The Governor
Copy to: Mr. / The Deputy Governor
Copy to: Mr. / Head of the Automatic Check Processing Team Copy to: Head of Egyptian Follow-up and Compliance Monitoring

J/N Giad / Circular 1

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