{"id":256835,"date":"2026-04-28T00:58:55","date_gmt":"2026-04-27T22:58:55","guid":{"rendered":"https:\/\/sada.ly\/en\/?p=256835"},"modified":"2026-04-29T01:00:12","modified_gmt":"2026-04-28T23:00:12","slug":"central-bank-allows-commercial-banks-to-accept-foreign-currency-deposits-and-expands-their-use-domestically-and-internationally","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/central-bank-allows-commercial-banks-to-accept-foreign-currency-deposits-and-expands-their-use-domestically-and-internationally\/","title":{"rendered":"Central Bank Allows Commercial Banks to Accept Foreign Currency Deposits and Expands Their Use Domestically and Internationally"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Our source has obtained a copy of a directive issued by the Central Bank to commercial banks regarding the authorization to accept cash deposits and incoming external transfers in foreign currency, and to use them as follows:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Individuals and legal entities are allowed to use their foreign currency balances as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Conduct direct transfers in foreign currency between their domestic accounts through banking applications and all electronic payment methods.<\/li>\n\n\n\n<li>Execute direct international transfers for various purposes, including the import of goods and services, provided that the required documentation is submitted and in compliance with applicable regulations and procedures.<\/li>\n\n\n\n<li>Open letters of credit in accordance with the applicable controls and regulations.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The correspondence also states:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Issuing and selling (Visa and Mastercard) cards, with deductions made from these foreign currency accounts.<\/li>\n\n\n\n<li>Carrying out fast transfers through Western Union or MoneyGram.<\/li>\n\n\n\n<li>Banks are permitted to retain foreign currency deposits in their vaults or deposit them in their accounts with the Central Bank of Libya. Account holders may also be granted interest upon request.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Central Bank of Libya emphasized the need to comply with all issued circulars and instructions, particularly the implementation of due diligence, enhanced due diligence measures, and procedures to identify the beneficial owner. It also stressed the importance of giving this matter the highest priority and facilitating all procedures to enable customers to benefit from banking services in line with the above-mentioned instructions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our source has obtained a copy of a directive issued by the Central Bank to commercial banks regarding the authorization to accept cash deposits and incoming external transfers in foreign currency, and to use them as follows: Individuals and legal entities are allowed to use their foreign currency balances as follows: The correspondence also states: [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":256836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[628,613],"class_list":["post-256835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-central-bank","tag-libya"],"acf":[],"_links":{"self":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/256835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/comments?post=256835"}],"version-history":[{"count":1,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/256835\/revisions"}],"predecessor-version":[{"id":256837,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/256835\/revisions\/256837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media\/256836"}],"wp:attachment":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media?parent=256835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/categories?post=256835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/tags?post=256835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}