ARTICLE · 07 MAY 2013

Regulation Of Foreign Currencies

Clyde & Co

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Libyan Central Bank Governor’s Resolution No. (1) of 2013 on the Regulation of Foreign Currencies Trading and the Determination of the Powers Required for Execution of Foreign Transfers for all Purposes.

LibyaGovernment, Public Sector

Albudery Shariha

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Libya:

Libyan Central Bank Governor's Resolution No. (1) of 2013 on the Regulation of Foreign Currencies Trading and the Determination of the Powers Required for Execution of Foreign Transfers for all Purposes.

Clyde and Co reports the publication of Resolution No. 1 of 2013, regarding the Central Bank of Libya based on Law No 46 of 2012 relating to the regulation of foreign currencies.

This new Resolution grants commercial banks the following authorities:

To process foreign transfers for public corporate parties.
To process foreign transfers related to the banks own activities and transactions.
To process foreign transfers for the purpose of financing the importation of Agricultural equipment, Information Technology or Medical equipment for commercial purposes.

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