Exclusive: Central Bank Issues Instructions to Banks on Extending the Use of High-Value Cheques via the ECC System for Public Entities Only

Our source has obtained a letter from the Central Bank of Libya addressed to commercial banks, containing its instructions to extend the use of high-value cheques exceeding 250,000 dinars through the ECC system, limited to public entities only, until April 30.

Customers are to be informed that the alternative to cheques is to conduct transfers and process them through the RTGS transfer system, in accordance with the relevant regulations and instructions.