Regulatory Alerts2024-06-24
Central Bank of Libya Circular 7/2024
The Central Bank of Libya issued Circular 7/2024 to mandate licensing, compliance, and reporting standards for all payment service providers and POS terminal operators. Updating prior directives 2023/7, 2024/2, and 2024/132, the circular establishes mandatory capital adequacy, cybersecurity protocols, and standardized financial reporting schedules. All licensed entities must implement these requirements by the specified deadlines to maintain operational continuity and regulatory alignment.
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