Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 6/2013
Issued by the Central Bank of Libya’s Banking and Currency Supervision Department on January 13, 2013, Circular Letter No. 6/2013 mandates commercial banks to include the statistical code of companies or partnerships in reports regarding entities that have settled foreign remittance obligations and submitted customs declarations, as well as to report the statistical codes of entities failing to submit such declarations within the stipulated period. This requirement operationalizes previous 2009 and 2012 directives by enforcing a maximum four-month settlement window for commercial foreign remittances and verifying the validity of imported goods’ statistical codes. Banks must forward these updated data sets to ensure accurate monitoring of cross-border trade settlements and compliance with customs verification standards.
Central Bank of Libya P.O. Box 1103 | Telegram Address: CB-Libya - Tripoli - Libya
Reference: CBL/Mon 52/28/819
Circular Letter: CBL/Mon No. (6/2013) Date: 1 Rabi' al-Awwal 1334 AH. Corresponding: January 13, 2013 AD.
To the Heads of Temporary Administrative Committees for Commercial Banks To the General Managers of Commercial Banks To the General Manager - Libyan Foreign Bank
Greetings,
With reference to the Banking and Currency Supervision Department Circular CBL/Mon (2009/5) issued on April 19, 2009, through which the Central Bank of Libya Board of Directors Resolution No. (13) of 2009 was circulated, concerning the modification of the settlement period for foreign remittances issued for commercial purposes to a maximum of four months, by submitting customs declarations evidencing the entry of goods into Libyan territory.
And in reference to our circular letter CBL/Mon No. (2012/117) issued on April 29, 2012, circulated to all banks, concerning the necessity of submitting the statistical card issued by customs from various suppliers and verifying its validity when reviewing applications to import goods from abroad.
Therefore, you are requested to add the statistical code number of the company or partnership to the data forwarded to the Banking and Currency Supervision Department when reporting on entities that have settled their status and submitted the necessary customs declarations to resume dealings with them. You are also requested to forward to us the statistical code of companies or entities reported as failing to submit customs declarations within the specified period.
...And peace, mercy, and blessings of God be upon you...
Dr. Mohammed Abduljalil Abusnina Director of the Banking and Currency Supervision Department
Copies to:
- The Governor
- The Deputy Governor
- Data and Statistics Department
Dated January 13, 2013 | Abu Bakr Al-Zarouqi
Phone: +218 21 3591 333 | Fax: +218 21 444 1488 | SWIFT Code: CBLJLYLX | www.cbl.gov.ly