CBL to impose due diligence procedures on the foreign exchange sales in several banks

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CBL to impose due diligence procedures on the foreign exchange sales in several banks

May 01, 2019 - 14:13
Written by: SafaAlharathy

The Central Bank of Libya (CBL) in Tripoli confirmed in a statement via Facebook that it will impose due diligence procedures in the foreign exchange sales operations with the banks of Bank of Commerce & Development, Alwaha Bank, Wahda Bank, and the Ejmaa Alaraby Bank in the eastern region.

The procedures come on the backdrop of reports regarding the existence of corruptions and non-compliance with the established procedures in terms of credits and direct remittances, which resulted in imposing such procedures on those banks, according to the CBL.