Central Bank of Libya

P.O. Box 1103
Telegraphic Address: Misurata Bipa - Tripoli - Libya

Reference: C.B.L / 804 / N
Circular C.B.L No. (2017/4)
Date: 23 Jumaada Al-Awwal 1438 AH
Corresponding Date: February 20, 2017 AD

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To: General Managers of Banks
To: Heads of Temporary Administrative Committees of Banks To: General Manager - Libyan Foreign Bank To: General Manager - Financial Services Transactions Company

Greetings,

Based on the provisions of Law No. (1) of 2005 concerning Banks and its amendments, and the supervisory and regulatory role exercised by the Central Bank of Libya over banks in accordance with the law.

And with reference to Circular C.B.L No. (2016/1), issued on 07/01/2016, regarding the amendment of Decision No. (5) of 2016 by the Governor, amending the provisions of Decision No. (245) of 2014 concerning dealing in foreign currency and determining the annual ceiling for electronic bank cards.

And with reference to Circular C.B.L No. (2016/5), issued on 12/04/2016, concerning the follow-up and development of controls for rapid transfers and electronic bank cards, and the follow-up of foreign currency transactions.

And with reference to Circular C.B.L No. (2016/12), issued on 27/10/2016, which forwarded Circular No. (2) of 2016 by the Governor, concerning the implementation of Central Bank of Libya Board of Directors Decision No. (36) of 2009 regarding the rules governing the opening of bank accounts in commercial banks, attached with Know Your Customer (KYC) forms for legal entities and individuals.

And with reference to Circular C.B.L No. (2017/1), issued on 01/01/2017, concerning Islamic banking standards.

And with reference to Circular C.B.L No. (2017/3), issued on 01/02/2017, concerning the controls governing the sale of foreign currency for personal purposes to be disbursed to heads of Libyan families.

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www.cbl.gov.ly, swift code:CBLJLYLX, Fax: +218 21 444 1488, Tel: +218 21 333 3591

Central Bank of Libya
P.O. Box 1103
Telegraphic Address: Central Bank of Libya - Tripoli - Libya

We inform you of the issuance of instructions from the Central Bank of Libya regarding certain amendments to the commissions and ceilings applied to bank cards and rapid transfers of all types, issued within the framework of the controls governing the sale of foreign currency for personal purposes to be disbursed to heads of Libyan families, as follows:

First: Commission for issuance and management of international bank cards.

No.	Type of Commission	Commission Value
1	Issuance or renewal of the card (deducted only once)	Maximum 75 Dinars
2	Annual commission for card account management	Maximum 24 Dinars
3	Recharge	Maximum 2 Dinars
4	Issuance of a replacement card for a lost card	Maximum 100 Dinars
5	Purchase commission via Point of Sale (POS) devices and the "International Information" network (Internet)	Maximum 1.00 US Dollar
6	Cash withdrawal commission from international ATMs per transaction	Maximum 3.00 US Dollars

It is noted that in calculating the bank's commission for the sale of foreign currency, the provisions of paragraph (4) first of Circular C.B.L No. (2017/3) issued on this matter shall be observed.

Second: Banks are committed to the commissions specified for rapid transfers of all types according to the agreement concluded between the two companies, Western Union and the Bank, and approved by the Central Bank of Libya, in a manner that does not conflict with paragraph (7) of the periodic letter C.B.L No. (2015/128) issued on 29/11/2015.

Third: The card recharge or rapid transfer shall be made for the head of the family or one of his adult family members only, through the head of the family's personal account in foreign currency.

Fourth: The deduction of commissions fixed in Libyan Dinar and referred to in item first shall be made from the accounts of heads of families in local currency.

www.cbl.gov.ly, swift code:CBLJLYLX, Fax: +218 21 444 1488, Tel: +218 21 333 3591

Central Bank of Libya
P.O. Box 1103
Telegraphic Address: Central Bank of Libya - Tripoli - Libya

Fifth: The transfer for the rapid remittance issued in US Dollars shall be processed, and the rapid remittance issued in this currency, along with the calculation and deduction of commissions according to the agreement with the two companies, shall be in US Dollars. The specified ceiling for rapid remittances is $2,000 per single remittance.

Sixth: International electronic cards shall be issued according to Circular (C.B.L No. 2017/3) in US Dollars (the card operation shall be in US Dollars). The daily ceiling for cash withdrawal via ATMs is $500 US Dollars, while purchase operations via POS devices and the "International Information" network (Internet) shall be according to the balance available in the card.

Seventh: Defining customers regarding the services provided by banks, advertising them, and responding to their inquiries, and providing officials at bank branches for customer services and public relations.

Eighth: Informing customers about the information that banks charge, and advertising it using bulletin boards, the bank's official website on the electronic information network, and any available means.

Accordingly, you are requested to give the matter the required attention, and for banks to take the necessary measures to implement the aforementioned instructions, whereby the specialized departments and units in your bank (Audit, Compliance, Anti-Money Laundering) shall follow up on the measures taken by the specialized departments regarding the matter, in accordance with the instructions issued by the Central Bank of Libya on this matter, exercising the powers entrusted to them. Banks shall bear their legal responsibilities associated with any violations committed in excess of the instructions issued by the Central Bank of Libya in this regard. Banks will be subject to continuous specialized inspections, and in case of non-compliance, penalties stipulated under the provisions of Law No. (1) of 2005 concerning Banks and its amendments will be applied.

Peace, mercy, and blessings of God be upon you...

Abdulhafith Saadoun Tarbil
Deputy Director of Bank Supervision and Compliance Department for Supervisory Affairs and Compliance Follow-up

To the Director / Mohamed Afif
To the Director / Court of Accounts
To the Director / Administrative Control Authority To the Director / Ministry of Finance To the Director / Director of Bank Supervision and Compliance Department To the Director / Director of the Executive Committee for Determining Controls for Overseas Observers - Central Bank of Libya To the Director / Director of the Legal Affairs Department - Central Bank of Libya To the Director / Director of the Accounts Department - Central Bank of Libya To the Director / Director of the Main Financial Information Unit - Central Bank of Libya To the Director / Director of the Libyan Credit Information Center - Central Bank of Libya To the Director / Director of Central Bank of Libya Loans (Benina - Benghazi - Sirte) To the Director / Director of the Media Office at the Central Bank of Libya To the Director / Heads of Compliance Units in Banks - Central Bank of Libya To the Receiver / Central Bank of Libya Compliance Unit Memorandum No.: 6 Periodic Circular 2017/4

www.cbl.gov.ly, swift code:CBLJLYLX, Fax: +218 21 444 1488, Tel: +218 21 333 3591