Tripoli – The Central Bank of Libya has warned licensed exchange companies and offices against delays in submitting the required data to activate the new electronic system dedicated to supporting the national economy, confirming that it will take strict legal measures against violators, up to the revocation of their licenses.
The bank explained, in an official letter numbered (2026/160), that the data includes the company’s official email and website, phone numbers designated for customer service, in addition to the current account number in Libyan dinars and the international bank account number (IBAN), as well as the detailed address with the nearest reference point.
It confirmed that penalties will be applied in accordance with the provisions of Law No. (1) of 2005 and its amendments, and the decision of the bank’s board of directors No. (8) of 2024, stressing that the goal is to regulate the work of exchange companies and enhance oversight over them.
The bank indicated that this warning comes as a follow-up to the outcomes of the meeting held at the beginning of last January at the Al-Mahari Hotel, which was dedicated to discussing mechanisms for regulating the work of exchange companies and their role in supporting the national economy, alongside facilitating the operation of the new electronic system.
