Regulatory Alerts2023-07-12
Circular 5/2023: Disclosure Requirements in Periodic and Annual Reports under Basel III
The Central Bank of Libya issued Circular 5/2023 to establish disclosure requirements for banks regarding periodic and annual reports in compliance with Basel III standards. This directive mandates that bank boards of directors and general managers adhere to specific regulatory frameworks for financial transparency and risk reporting. The circular ensures that Libyan banks align their reporting practices with international Basel III guidelines to enhance financial stability and accountability.
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