Regulatory Alerts2023-07-12
Added · Updated
Circular 13/2012 on Resumption of Prepaid Plastic Card Issuance and Authorization for Commercial Banks to Issue Cards Against Foreign Currency Accounts
The Central Bank of Libya has approved the resumption of prepaid plastic card issuance and authorized commercial banks to activate and issue these cards. This authorization applies to cards issued against foreign currency denominated accounts managed by individuals, provided these accounts are prepared, not subject to reservation or freezing by judicial procedures, and funded through permissible sources. All banks issuing these cards are required to submit monthly statistics on card issuance and their corresponding value to the Department of Banking and Currency Supervision.
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