Regulatory Alerts2022-06-07
Periodic Letter (141/2013)
The Central Bank of Libya issued Periodic Letter No. 141/2013 to enforce a directive from the General National Congress's Budget, Planning and Finance Committee requiring all commercial banks to reject and halt any document, letter, or correspondence that lacks four mandatory legal elements: name, title/position, official stamp, and signature. Banks are instructed to immediately implement this requirement and ensure that all incoming paperwork meets these specific formal criteria before processing. This mandate aims to standardize official communications and prevent the handling of legally non-compliant documents across the Libyan banking sector.
Share