The Central Bank of Libya’s (CBL) National Committee for Combating Money Laundering and Terrorist Financing issued the following statement today:
‘‘We affirm that responding to the increasing challenges facing the financial system of the Libyan state represents a national responsibility that requires the concerted efforts of all concerned parties.
It is necessary to adopt an integrated legislative and institutional framework in line with international standards, to ensure that Libya remains within the global financial system.
- The receipt of international information regarding suspicious activities suspected of passing through the Libyan financial system, which reflects the fragility of the current system and exposes the State to the possibilities of international legal accountability.
We call for the speedy adoption of the draft Anti-Money Laundering and Combating the Financing of Terrorism Law, as a key step towards meeting the requirements of the Financial Action Task Force (FATF) and enhancing confidence in the Libyan financial system.
Any delay in this regard will expose Libya to serious risks to the reputation of the Libyan financial system and economic and livelihood stability.
We call on all authorities, especially legislative, executive, judicial and supervisory authorities, as well as law enforcement agencies, to shoulder their responsibilities and take the necessary urgent measures to ensure the integrity of the financial system and the protection of the national economy.’’
