Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 3/2012 on Branch Operating Hours
The Central Bank of Libya issued Circular Letter No. 3/2012 to enforce compliance with official working hours for commercial bank branches, addressing citizen complaints regarding premature closures. The directive mandates that all commercial banks instruct their branches to strictly adhere to designated operating hours and comply with existing banking regulations under Law No. (1) of 2005. Non-compliant institutions will face strict enforcement measures to ensure transaction stability and uninterrupted public access to banking services.
Central Bank of Libya P.O. Box: 1103. Telegram Address: Egypt - Libya, Tripoli, Libya
Reference: CBL 2/779
Circular Letter CBL No. (3/2012) Date: 14 Safar 1433 AH Corresponding to: January 09, 2012 AD
To: Chairmen of Temporary Administrative Committees of Commercial Banks To: General Managers of Commercial Banks To: Director General, Libyan Foreign Bank
Greetings,
In the exercise of its supervisory and monitoring role over commercial banks operating within Libya, and based on the provisions of Law No. (1) of 2005 regarding Banks, it has been observed that some commercial bank branches close their doors to the public during official working hours. This has compelled citizens to file complaints against these banks for failing to provide the required banking services at these branches, which constitutes a violation of existing legislation and instructions issued by the Central Bank of Libya on this matter.
Therefore, in pursuit of stability in banking transactions and to resolve the issues faced by citizens during their visits to bank branches, you are requested to notify your banks' branches of the necessity to strictly adhere to official working hours and comply with the instructions issued by the Central Bank of Libya on this matter, as well as to follow the regulations governing banking operations. Please note that strict measures will be taken against non-compliant banks, in implementation of the provisions of Law No. (1) of 2005 regarding Banks.
Peace, mercy of God and blessings be upon you,
Dr. Mohammed Abduljalil Abusneene Director of the Banking and Currency Supervision Department
Copies to: The Governor Copies to: The Deputy Governor Copies to: Branch Managers of the Central Bank of Libya (Benghazi - Sabha - Sirte) Copies to: Banking Follow-up and Compliance Monitoring Department Copies to: Inspection Teams of the Banking and Currency Supervision Department
Phone: +218 21 3333591, Fax: +218 21 444 1488, www.cbl.gov.ly, SWIFT code: CBLJLYLX