Regulatory Alerts2023-07-12
Added · Updated
Circular 4/2017
The Central Bank of Libya sets maximum fees for the issuance, renewal, and management of international bank cards, including specific caps in Libyan Dinar and US Dollars for services such as card replacement, point-of-sale purchases, and ATM withdrawals. It mandates that remittance fees follow agreements with Western Union and establishes a $2,000 limit for individual rapid remittances, alongside a $500 daily cash withdrawal limit for international electronic cards. Banks are required to implement these instructions, ensure customer transparency regarding fees, and face legal penalties for non-compliance.
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