Central Bank of Libya

P.O. Box 1103 - Telegram Address: CBL - Tripoli, Libya

Reference: CBL/Reg/804
Circular Letter CBL/Reg. No. (2015/78)
Date: 14 Ramadan 1436 AH
Corresponding to: 1 July 2015 AD

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To the General Managers of Commercial Banks To the Heads of Temporary Administrative Committees in Commercial Banks To the General Manager, Libyan Foreign Bank

Greetings...

Based on the provisions of Law No. (1) of 2005 regarding Banks and its amendments, and within the framework of the Central Bank of Libya's follow-up and supervision over commercial banks and their activities.

And through the complaints received by the Central Bank of Libya from certain hospitals and other health entities, regarding banks' delays in transferring financial dues to foreign workers contracted with hospitals and health facilities under covered employment contracts.

And based on Circular Letter CBL/Reg. No. (2012/35) issued on 7 February 2012, regarding the authorization of commercial banks to decide on requests submitted for transferring and disbursing financial dues to foreign workers contracted with various national entities, in accordance with the conditions stipulated in their executed employment contracts, without referring to the Central Bank of Libya after confirming compliance with all legally required conditions, according to prevailing legislation.

And since the Central Bank of Libya has authorized commercial banks to decide on these requests in order to facilitate and expedite procedures related to transferring their salaries and financial dues according to executed employment contracts.

Therefore, you are requested to give special importance to this matter and expedite forwarding coverage requests for foreign workers in the health sector to the Central Bank of Libya after completing the required documents and necessary data according to the specific instructions issued.

Furthermore, the Central Bank of Libya will hold all banks fully legally responsible for the resulting liabilities, and penalties stipulated under Law No. (1) of 2005 regarding Banks and its amendments will be applied.

... And peace, mercy of Allah, and blessings be upon you ...

Abduljayed Mohammed Al-Mathwari
Manager of Banks and Currency Supervision Department / Acting

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To the Governor
To the Deputy Governor
To the Head of the Financial Committee at the General National Congress To the Minister of Health To the Head of the Foreign Workers Account Coverage Committee To the Manager of Accounts Department, Central Bank of Libya To the Heads of Departments and Units in Exhibitions (Audit, Compliance) Data and Statistics Department Banking Partnership and Compliance Follow-up Department

3.m/ Abduljayed

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Phone: +218 21 333 3591, Fax: +218 21 444 1488, SWIFT Code: CBLJLYLX, www.cbl.gov.ly