Regulatory Alerts2024-01-03
Regulatory Regulation for the Credit Inquiry System
The Libyan Credit Information Center issued these bylaws to establish a mandatory credit inquiry system for all financial institutions and financing entities operating in Libya. The regulation mandates the collection, secure storage, and periodic reporting of borrower credit data to a central electronic database within specified timelines. It defines member obligations, customer rights, dispute resolution mechanisms, and technical security standards to mitigate credit risks and ensure financial stability.
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