Exclusive: Central Bank of Libya Warns UBCI Over Unauthorized Fees and Orders Refund of 3.4 Million LYD

Our source has exclusively obtained a letter from the Central Bank of Libya addressed to UBCI, warning the bank over unauthorized deductions of fees from customers.

According to the findings of the inspection mission carried out at Al-Muttahid Bank between May 26–27, 2025, the bank was found to be in violation of the Central Bank’s regulations, by charging the following fees:

• 5 LYD and 3 LYD per withdrawal when using the bank’s card at ATM machines,
• 2 LYD per month for SMS notification services,
• 25 LYD annually as a digital service management fee.

These deductions were made in direct violation of the instructions issued by the Central Bank of Libya.

The Central Bank emphasized the need for strict compliance with its regulations and called on Al-Muttahid Bank to refund the total amount of 3,477,650.15 LYD to affected customers during the year 2025.

Additionally, the bank is required to submit a detailed report outlining the corrective measures taken in response to this directive.