Regulatory Alerts2022-06-07
Circular Letter No. 4/2016
The Central Bank of Libya’s Supervision Department issued Circular Letter No. 4/2016 to commercial banks and the Libyan Foreign Bank, directing them to strictly process original Certificate of Registration documents from the Tripoli Chamber of Commerce rather than copies, following reported violations and forgery in duplicated certificates. The circular incorporates a supporting letter from the Chamber’s General Manager dated December 8, 2015, which reinforces this compliance requirement. Banks are instructed to implement the necessary internal procedures immediately to ensure full adherence to the original-document mandate and mitigate documentation fraud.
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