Regulatory Alerts2022-06-07
Periodic Letter (189–2018)
The Central Bank of Libya issued Circular No. 189/2018 instructing banks to open and maintain foreign currency accounts for customers purchasing currency for personal, study, or medical purposes. The directive mandates that banks update customer records in the banking system and permit both domestic inter-account transfers and direct foreign remittances to first-degree relatives abroad, capped at $100,000 annually per account. Banks must implement these updated foreign currency sales mechanisms and ensure all transfer data is accurately recorded in the designated system.
Share