Central Bank of Libya Periodic Letter No. 173/2017

CENTRAL BANK OF LIBYA
P.O. Box 1103 | Telegram Address: Misrata, Libya - Tripoli, Libya

Reference: (AMN/N) 804
Periodic Letter No. AMN (2017/173)
Date: 19 Muharram 1439 AH
Corresponding to: 9/10/2017 AD

To the General Managers of Banks,
To the General Manager - Libyan External Bank

Greetings...

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

It has been observed recently that some commercial banks have relocated their branches and agencies to alternative locations within the jurisdiction of other municipalities, without coordination or regulation with the municipalities where the bank branches were relocated. This has led to obstructing traffic and causing congestion in some municipalities.

Therefore, you are urgently requested not to relocate the headquarters of your banks, or their branches or agencies, except after obtaining the specific approval of the Central Bank of Libya, along with providing evidence that no relocation permits have been issued by the municipal council within whose jurisdiction the banks are located.

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

Dr. Mukhtar Al-Hadi Al-Talawi
Director of the Banking and Currency Supervision Department

// Copy to //
Mr. / Mr.
Deputy Director of the Banking and Systems Supervision Department for Office Supervision and Compliance Monitoring Heads and Deputies of Compliance in Commercial Banks (Follow-up) The Appointed by a Letter and Collected/Verified by a Letter (2017/173) Periodic Letter No. / Al-Kilati