Central Bank of Libya

P.O. Box 1103 Telegraphic Address: Masrafibia - Tripoli - Libya Reference: I.R.M.N. /804 Circular I.R.M.N. No. (2015/5) Date: 17 Dhu al-Qi'dah 1436 AH Corresponding to: September 1, 2015 AD. To: General Managers of Commercial Banks To: Heads of Temporary Administrative Committees in Commercial Banks To: General Manager, Libyan Foreign Bank Greetings... Subject: Regulations Governing the Use of Electronic Payment Cards Based on the provisions of Law No. (1) of 2005, concerning Banks, and its amendments, and on the supervisory and regulatory role of the Central Bank of Libya under the provisions of the Law. And with reference to Circular I.R.M.N. No. (16) of 2003 issued on 3/11/2003, regarding granting permission to commercial banks to start issuing pre-paid tourist cards. And to Circular I.R.M.N. No. (4) of 2014 issued on 5/11/2014, regarding emphasizing the necessity of adhering to the regulations governing the use of electronic payment cards. And to Circular I.R.M.N. No. (5) of 2014 issued on 31/12/2014, by which limits were set for daily, weekly, and monthly withdrawals using electronic cards. And to Circular I.R.M.N. No. (1) of 2015 issued on 14/1/2015, regarding clarifying banks' inquiries related to Circular I.R.M.N. No. (5) of 2014, referred to above. And to what was reached in the meeting of Mr./ Director of the Payments and Settlements Department at the Central Bank of Libya with commercial banks, held on Thursday, corresponding to 27/8/2015, to discuss problems related to the use of electronic banking cards and find appropriate solutions for them. And within the framework of the Central Bank of Libya's keenness to monitor and develop regulations for the issuance and use of electronic banking card products, regulate and legalize commercial banks' requests for external cash coverages for this product, as well as to ensure their optimal use by ... Continued www.cbl.gov.ly , swift code:CBLULYLX , +218 21 444 1488 : Fax , +218 21 333 3591 : Phone

Central Bank of Libya

P.O. Box 1103 Telegraphic Address: Masrafibia - Tripoli - Libya .2. its rightful users, and to control and address any excesses that may result from their use. While we emphasize the necessity of adhering to the regulations issued in this regard, you are requested to comply with the following:

1. Electronic banking cards, of all types, are defined as a personal product targeting individual customers for internal and external personal use.
2. Banks must ensure customers provide their National ID number as a basic requirement for issuing any new electronic card, and that the customer has a current account with the bank. The National ID number must be obtained for all previously issued cards, and all charging and re-activation operations for cards not linked to a National ID number must be stopped.
3. The annual limit for the card is USD 10,000.00 (ten thousand US dollars) only, or its equivalent in foreign currencies, non-cumulative.
4. The daily limit for cash withdrawal from the card through ATMs is USD 200.00 (two hundred US dollars) only, or its equivalent in foreign currencies, and not exceeding USD 4,000.00 (four thousand US dollars) only, or its equivalent in foreign currencies, monthly.
5. The daily limit for cash withdrawal through Points of Sale (POS) is USD 50.00 (fifty US dollars) only, or its equivalent in foreign currencies, to be deducted from the daily cash withdrawal balance.
6. The limit for purchase and payment operations on various other channels, including Points of Sale (POS) and the international network (INTERNET), is set at USD 1,500.00 (one thousand five hundred US dollars) only, or its equivalent, daily, and not exceeding USD 2,500.00 (two thousand five hundred US dollars) only, or its equivalent, weekly, with a maximum of USD 4,000.00 (four thousand US dollars) only, or its equivalent in foreign currencies, monthly, from the date of the last card use.
7. The card may not be issued to persons who have not reached the legal age of majority.
8. Each bank is obligated not to exceed the limits specified above. The annual limits for the card, and the daily, weekly, and monthly limits for cash withdrawal, and the limits for card use through Points of Sale (POS), apply to a single customer identified by their National ID number. Sale ..... www.cbl.gov.ly , swift code:CBLJLYLX , +218 21 444 1488 : Fax , +218 21 333 3591 : Phone

Central Bank of Libya

P.O. Box 1103 Postal Address: Masrafibia - Tripoli - Libya .3. 9. Each bank has the right to set a lower limit than those referred to above, according to its available capabilities for external applications of card products, as well as to determine their places of use in a manner that does not conflict with the provisions and principles of Islamic Sharia and applicable laws. 10. The instructions issued under Circular I.R.M. No. (5) of 2014, issued on 31/12/2014, which set limits for daily, weekly, and monthly withdrawals using electronic cards, are hereby cancelled. Therefore, you are requested to implement these instructions and take the necessary measures to put them into effect, so that the competent departments and units in your bank (Audit, Compliance, Anti-Money Laundering) monitor the procedures taken by the Cards Department in managing and operating electronic cards, in accordance with all relevant instructions issued by the Central Bank of Libya, in exercise of their assigned competencies. To emphasize the necessity of adhering to the instructions issued by the Central Bank of Libya in this regard, all banking branches that issue these cards will be subjected to periodic inspection tasks to ensure their compliance with the instructions regulating the issuance of electronic banking cards. 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 ... Abdulhafid Masoud Terbil Director of Banking and Monetary Control Department / Acting To: Deputy Governor To: Head of the Committee for Covering Banks' Accounts Abroad – Central Bank of Libya To: Director of Legal Affairs Department – Central Bank of Libya To: Director of Services and Settlements Department – Central Bank of Libya To: Director of Competitions Department – Central Bank of Libya To: Directors of Central Bank of Libya Branches (Benghazi – Sebha – Sirte) To: General Manager, Financial Escort and Services Company To: Directors of Departments and Units in Banks (Audit, Compliance, Anti-Money Laundering) Data and Statistics Section Banking Follow-up and Compliance Monitoring Section Q.M. 2015/1 M. Abdul Hamid www.cbl.gov.ly , swift code:CBLJLYLX , +218 21 444 1488 : Fax , +218 21 333 3591 : Phone