As part of efforts to develop the mechanism for issuing letters of credit and to ensure transparency and fairness in access to foreign exchange, the Central Bank of Libya announces the launch of a registration service for companies wishing to obtain foreign exchange through the Foreign Currency Management System (fcms.cbl.gov.ly). This will begin with a one week pilot phase before officially going live on August 1st.

Companies must have a valid CBL key (bank code), and authorized users on the registered bank account must be granted access to add company accounts. This is conditional on verifying their personal information national ID number, phone number, and passport number registered within the CBL key system and the FCMS platform.

Registration on this platform requires the CBL key and the company’s bank account IBAN number.

The Central Bank will also produce and publish a tutorial video explaining how to use the platform.