Regulatory Alerts2023-09-21
Central Bank of Libya Circular 15/2023: Framework for Evaluating the Board of Directors and Members of Banks Operating in Libya
The Central Bank of Libya issued Circular 15/2023 to mandate a semi-annual evaluation framework for the Board of Directors and its members at banks operating in Libya. The document establishes a detailed scoring system based on governance standards covering board composition, operational procedures, specialized committees, the Chairman's duties, and individual performance metrics. Banks are required to complete this assessment and submit the results to the Banking and Currency Supervision Department upon completion.
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