Regulatory Alerts2023-09-21
Central Bank of Libya Circular 09/2023 on Financial Position and Statement of Revenues and Expenses for Islamic Banks
The Central Bank of Libya issued Circular 09/2023 to mandate commercial banks and Islamic banking windows to submit monthly financial position and revenue/expense statements in accordance with IFSB standards and Basel instructions. The circular requires licensed financial institutions to provide standardized data using attached forms within fifteen days of the subsequent month, ensuring consistent reporting across all branches. This directive aligns domestic Islamic banking operations with established Sharia-compliant frameworks and enhances regulatory oversight of alternative banking products.
Share