Regulatory Alerts2014-02-03
Added · Updated
Circular 1/2014
The Central Bank of Libya prohibits commercial banks from opening any permanent letters of credit under the Price Stabilization Fund or the Medical Supply Agency without prior approval from the Central Bank. Additionally, banks are required to report existing and outstanding obligations related to these entities to the Banking and Currency Supervision Department during 2014. This directive is issued pursuant to the General Conference of the People's Authority Resolution No. 16 of 2014 and amends previous permissions granted in Circular No. 146/2011.
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