Central Bank of Libya

Postal Address: Misrata Street - Tripoli
P.O. Box 1103 - Tripoli - The Great Socialist People's Libyan Arab Jamahiriya

Reference: Ram N 23/719

Circular No. Ram N (2011/1)
Date: 07 Tughut
Corresponding: 09 Thawar 1379 A.H. (2011 A.D.)

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Brother / General Manager of the Republic Bank Brother / General Manager of the National Commercial Bank Brother / General Manager of the North Africa Bank Brother / General Manager of the Libyan Foreign Exchange Bank

Greetings,

Based on the provisions of Law No. (1) of 1373 A.H. (2005 A.D.), issued on 12/1/1373 A.H. (2005), concerning Banks, and implementing the supervisory and regulatory role exercised by the Central Bank of Libya on commercial banks.

In addition to the periodic letter No. (2003/148) dated 12/7/2003, regarding the necessity of obtaining the Central Bank of Libya's approval before traveling outside the Jamahiriya.

And to the periodic letter No. (2009/44) dated 22/3/2009, which regulated the procedures for bank managers' travel outside the Jamahiriya, including that the number of missions abroad in a year does not exceed four missions.

And following the periodic letter No. (2010/254) dated 12/12/2010, which requested that this department be provided with data on the number of trips abroad according to travel dates and destinations during the two years (2009 – 2010).

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((2))

We reiterate the determination of the number of trips allowed for the brothers, the working managers of commercial banks,

to be limited to (4) times in one year, and if it is necessary to exceed this number, the manager of the concerned bank must obtain prior permission from the Central Bank of Libya, and the boards of directors of the banks must follow up on this, with the necessity of working to reduce travel except for necessary work that requires circumstances and work requirements.

And peace, mercy, and blessings of God be upon you……

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"Dr. Muhammad Abdul Jalil Abusnina"
Director of the Bank and Currency Supervision Department

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Copy to: The Governor
Copy to: The Deputy Governor
Copy to: The Chairman of the Board of Directors of the Libyan Foreign Exchange Bank Copy to: The Chairman of the Board of Directors of the Republic Bank Copy to: The Chairman of the Board of Directors of the National Commercial Bank Copy to: The Chairman of the Board of Directors of the North Africa Bank Copy to: The Knowledge Available Department and Compliance Accompaniment

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