Central Bank of Libya

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

Ref: I.M.R / 804/N Circular I.R.M.N. No. (2017/4) Date: 23 Jumada al-Awwal 1438 AH Corresponding Date: February 20, 2017 AD

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To: General Managers of Banks To: Chairmen of Temporary Administrative Committees of Banks To: General Manager - Libyan Foreign Bank To: General Manager - Ma'amalat Financial Services Company

Greetings,

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

And to Circular I.R.M.N. No. (2016/1), issued on 07/01/2016 AD, concerning the implementation of the Governor's Decision No. (5) of 2016 AD, amending the provisions of Decision No. (245) of 2014 AD concerning dealing in foreign currency and determining the annual cap for electronic bank cards.

And to Circular I.R.M.N. No. (2016/5), issued on 12/04/2016 AD, concerning monitoring and developing controls for remittances and electronic bank cards, and monitoring the implementation of foreign currency transactions.

And to Circular I.R.M.N. No. (2016/12), issued on 27/10/2016 AD, which forwarded Circular of the Governor No. (2) of 2016 AD, concerning the implementation of the Libyan Central Bank Board of Directors' Decision No. (36) of 2009 AD, concerning the rules governing the opening of bank accounts in commercial banks, attached with two Know Your Customer (KYC) forms for legal entities and individuals.

And to Circular I.R.M.N. No. (2017/1), issued on 01/01/2017 AD, concerning Islamic banking standards.

And to Circular I.R.M.N. No. (2017/3), issued on 01/02/2017 AD, concerning the controls governing the sale of foreign currency for personal purposes to be disbursed to heads of Libyan families for the year 2017.

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

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

We inform you of the issuance of the Central Bank of Libya's instructions regarding certain amendments to the commissions and caps applied to bank cards and remittances 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 LYD
2	Annual commission for card account management	Maximum 24 LYD
3	Recharge	Maximum 2 LYD
4	Issuance of a replacement card for a lost card	Maximum 100 LYD
5	Purchase commission via Point of Sale (POS) devices and "International Information" network (Internet)	Maximum 1.00 USD
6	Cash withdrawal commission from international ATMs per transaction	Maximum 3.00 USD

It is to be noted that in calculating the bank's commission for selling foreign currency, the provisions of paragraph (4) of the first section of Circular I.R.M.N. No. (2017/3) issued for this purpose shall be observed.

Second: Banks are committed to the commissions specified for remittances of all types according to the agreement concluded between the two companies and Western Union (Western Union) and approved by the Central Bank of Libya, and in a manner that does not conflict with paragraph (7) of the Circular Letter I.R.M.N. No. (2015/128) issued on 29/11/2015 AD.

Third: Recharging the card or making a remittance for the head of the household or one of his adult family members is permitted only through the head of the household's personal account in foreign currency.

Fourth: The deduction of the prescribed commissions in Libyan Dinar mentioned in item first shall be made from the accounts of heads of households in local currency.

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

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

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

Sixth: International electronic cards shall be issued according to Circular (I.R.M.N. No. 2017/3) in US Dollars (the card operation shall be in US Dollars). The daily cap for cash withdrawals via ATMs is $500 USD, while purchase operations via POS devices and the "International Information" network (Internet) shall be according to the balance available in the card.

Seventh: Informing customers about the services provided by banks, advertising them, responding to their inquiries, and providing customer service and public relations officers at bank branches.

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

Accordingly, you are requested to convey the required importance to this matter, 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 monitor the measures taken by the specialized departments regarding the matter, in accordance with the instructions issued by the Central Bank of Libya for this purpose, exercising the competencies entrusted to them. Banks shall bear their legal responsibilities associated with any violations committed in deviation from the instructions issued by the Central Bank of Libya in this regard. Banks will be subject to continuous targeted inspections, and in case of non-compliance, the penalties stipulated under the provisions of Law No. (1) of 2005 AD concerning Banks and its amendments will be applied.

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

Abdulhafith Saadoud Tarbil Deputy Director of Banking Supervision and Office Supervision and Compliance Monitoring Department

For the Governor For the Secretary of the Court of Accounts For the Secretary of the Administrative Control Authority For the Deputy Minister of Finance For the Director of Banking Supervision and Office Supervision Department For the Director/Head of the Foreign Correspondent Accounts Regulation Committee - Central Bank of Libya For the Director of the Legal Affairs Department - Central Bank of Libya For the Director of the Accounts Department - Central Bank of Libya For the Director of the Main Financial Information Unit - Central Bank of Libya For the Director of the Libyan Credit Information Center - Central Bank of Libya For the Directors of Central Bank of Libya branches (Benghazi - Sirte - Benghazi) For the Director of the Media Office at the Central Bank of Libya Compliance Units Heads in Banks - Printed For the Follow-up Recipient Memorandum No. / 6 Circular 2017/4

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