CBL Urges Commercial Banks to Comply With Letter of Credit Decision.
Pulbished on:
Tripoli, 24 February 2016(Lana) The Central Bank of Libya CBL has
addressed letters to the CEOs of commercial banks, and the Director
General of the Libyan Foreign Bank urging them to comply with the CBL
instructions on referring of customers requests of cover approval
through letter credit e transaction network.
The letters came as the CBL noticed that banks delay referring of
customer cover requests through the network.
The CBL has authorized commercial banks to process letters of
credit as of February 2016.
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