Exclusive: Central Bank Circulates Guidelines to Banks on the Roles of Licensed Exchange Companies and Offices

Our source obtained exclusively a circular from the Central Bank of Libya to banks regarding the activities conducted by licensed exchange companies and offices in foreign currency transactions.

These activities include buying and selling foreign currency with a maximum margin of 7%. Licensed exchange companies and offices are also authorized to process transactions through banks’ point-of-sale (POS) terminals—owned by Libyan banks—using cards issued by local or foreign banks.

The deducted amounts from both local and foreign cards are converted into Libyan dinars and deposited into foreign currency accounts dedicated to licensed activities. Exchange companies can also purchase foreign currency from accounts held by individuals or legal entities at banks operating in Libya and use cash against accounts of the exchange companies and offices themselves.

All operations must comply with the instructions outlined in Circular A.R.M.N No. (2025/20), ensuring that the selling price does not exceed a 7% profit margin above the Central Bank of Libya’s selling rate.