Central Bank of Libya

P.O. Box 1103 | Telex: CBL-Libya-Tripoli-Libya Reference: R.M.N/804 Document Label: Circular No. (2012/18) Date: 25 Ramadan 1433 AH / August 13, 2012 AD ---

To: General Managers of Commercial Banks
To: Heads of Temporary Administrative Committees at Commercial Banks To: General Manager, Libyan Foreign Bank To: General Manager, Sarraqa and Financial Services Company

Greetings...

Subject: Removal of the Minimum Amount Required for Issuing Prepaid Electronic Cards

Based on the provisions of Law No. (1) of 2005 concerning Banks, and its amendments.
In addition to Circular R.M.N No. (2003/16) issued on 3/11/2003, regarding the prohibition of commercial banks from issuing prepaid tourism cards based on accounts denominated in Libyan Dinar or foreign currency. And Circular R.M.N No. (2012/13) issued on 23/4/2012, regarding the prohibition of commercial banks from issuing prepaid plastic cards based on accounts denominated in foreign currency. And Periodic Letter R.M.N No. (2012/142) dated 28/5/2012, regarding commercial banks resuming the activation of prepaid plastic cards based on accounts denominated in Libyan Dinar. And within the framework of efforts to promote electronic payment culture among customers, and encourage citizens to transact using electronic payment means for their purchases and other services, we inform you of the instructions of the Governor of the Central Bank of Libya regarding the removal of the minimum amount required for issuing prepaid electronic cards, which was previously in effect at ($500.00) five hundred US dollars or its equivalent in other foreign currencies, and allowing banks to issue electronic payment cards at the amount they deem appropriate.

...and peace be upon you...

Abduljadid Muhammad Al-Manouri
Deputy Director, Banking and Currency Supervision Department ---

To: The Governor / The Deputy Governor / Director, Banking and Currency Supervision Dept. / Director, Central Operations Dept., CBL / Director, Information and Settlements Dept., CBL / Director, Legal Affairs Dept., CBL To: Managers and Deputy Managers of Central Bank of Libya (Tourism/Sarri Branches) Banking Regulation and Credit Monitoring Division Ref: 2012 / R.M.N Circular No. ---

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