CBL tightens it up on money laundry and smuggling

CBL tightens it up on money laundry and smuggling

July 15, 2015 - 11:27
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Written By: Abed

The Head of media bureau in the Central Bank of Libya (CBL), Isam Oul, said that the bank has sent more than 30 companies to the Attorney General Office charging them of money smuggling and money laundry by giving counterfeit documents with a total sum of 3 billion dinars.  

The CBL indicated that it had taken up strict measures to limit the smuggling and laundry of money as well as the corruption in money transfers and credits, knowing that the measures include canceling overseas money transfers for commercial banks to import agricultural equipment and IT devices as well as computer and medical equipment.

It also asked the commercial banks to request from their customers’ paper credits based on the known bank procedures as well the CBL’s guidelines, saying that the priority in opening bank credits will now go to industrial firms specialized in crude materials required for producing what the local market demands. 

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