Regulatory Alerts2022-06-07
Central Bank of Libya Circular Letter No. 2016/80
The Central Bank of Libya issued Circular Letter No. 2016/80 on June 16, 2016, extending the deadline for commercial banks to receive goods against collection documents to July 31, 2016, and setting the final document settlement date at August 5, 2016. This administrative extension applies to all transactions governed by Board Decision No. (17) of 2014 and related circulars, ensuring uninterrupted compliance for local market sales. Commercial banks must adjust their collection agency operations and internal reporting to align with these revised timelines effective immediately.
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