Regulatory Alerts2023-07-12
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Central Bank of Libya Publication No. 12 of 2010 on Amending Credit Facility Conditions for Foreign Companies
The Central Bank of Libya issued Publication No. 12 of 2010, accompanied by Board Decision No. 24 of 2010, to amend the conditions for granting credit facilities to foreign companies. The decision modifies Article 3 of the prior framework to explicitly extend existing guarantee conditions to advance payment, initial insurance, and performance guarantees, while repealing Articles 4 and 5 of the original regulations. Commercial banks are required to implement these amended conditions immediately, with the Banking and Currency Supervision Department overseeing compliance and execution.
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