Tripoli, 16 April 2014:
The Central Bank of Libya (CBL) has fined two Tripoli branches of the Sahara Bank and Gumhouria . . .[restrict]Bank for what is says are financial irregularities.
The CBL imposed fines of LD 100,000 on the main branch of Sahara Bank and Gumhouria Bank’s Istiqlal Street branch after it discovered inconsistencies that “violated “existing banking laws after an inspection.
The CBL declined to comment on the nature of the financial irregularities when contacted by the Libya Herald.
Issuing the two penalties, the CBL also called on internal auditors and management at the two banks to evaluate their internal control systems to avoid further action against them. [/restrict]