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CBL decreases money transfer limit to 50%

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The Central Bank of Libya (CBL) decreased the maximum allowed limit for annual money transfer to outside Libya for 50%, which worth 7500 Dollars or equivalent, for different purposes and foreign currency transfer or personal purposes.

The Central Bank stipulated, in its decision to organize dealings of foreign exchange issued on Wednesday, that any applicant should have bank account and dealt with the bank for at least six month before any transfer request.

The Central Bank permitted commercial banks to accept requests for external transfers in accordance with regulations and procedures.