Regulatory Alerts2023-07-12
Added · Updated
Circular 1/2018: Requirements for Filling Leadership Positions in Banks
The Central Bank of Libya requires that temporary appointments of general managers or their deputies to leadership positions in banks and supervised financial institutions be submitted to the Bank's Banking Supervision Department for approval. These temporary appointments are capped at a maximum duration of six months, and the position of general manager must never remain vacant. Affected entities must regularize their current appointment statuses and issue corrective decisions within three months of receiving the circular.
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