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Administrative Control: banks must declare prices of services

The Administrative Control Authority (ACA) has obliged commercial banks to publish commission rates and banking services in all branches of public and private commercial agencies.

The ACA’s media office, Ayman Gladi told ArraedLG, on Wednesday that they revealed a “significant disparity” in the value of some of the banking services of commercial banks, explaining that some of them, are “raising the price of their services in violation of laws and regulations”.

He added that the ACA will “subject” banks and its branches to periodic inspection; to ensure their commitment, warning “violators” of the penalties stated by Law No. (1) For the year 2005 about banks.

 

The ACA addressed the Central Bank of Libya (CBL) last November, to force commercial banks to abide by the announcement of the ACA rates at the lowest possible cost.

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