Regulatory Alerts2010-04-05
Added · Updated
Circular 2010/5
The Central Bank of Libya requires commercial banks and the Libyan External Bank to refrain from opening any new bank accounts without using the specified Customer Identity Verification (KYC) forms. Banks must also regularize the status of existing accounts within six months from the date of the circular. Compliance with these instructions will be subject to continuous inspection, and non-compliant banks, as well as branch and general managers, bear responsibility for violations.