Week of
Libya's central bank tightened foreign-currency sale controls while Botswana's regulators cancelled two licences and updated the FATF high-risk list. The Central Bank of Libya amended paragraph (III/1) of Circular No. 2 of 2026, limiting licensed exchange companies and bureaus to three bank accounts at a maximum of three operating banks, requiring them to report those accounts to the Banking and Monetary Supervision Department, and barring changes without prior approval. Botswana accounts for the rest of the week. The Non-Bank Financial Institutions Regulatory Authority cancelled the licence of PAA Capital under the Virtual Assets Act, 2025, and separately revoked the exemption granted to Turnbright Investments, trading as Turnbright Pawn Shop, under the NBFIRA Act, 2023; both notices direct the firms to notify customers and safeguard or return customer assets. The Financial Intelligence Agency of Botswana, published through the same source, communicated the updated FATF list of high-risk and monitored jurisdictions after the February 2026 plenary, adding Kuwait and Papua New Guinea to the grey list and requiring enhanced due diligence from specified parties and accountable institutions. The week's weight sits with Botswana, where three records cover virtual assets, pawnshops and AML jurisdiction risk, while Libya's single circular addresses exchange-sector account rules.
Libya
Circular IRM N No. (2026/7)
The Central Bank of Libya amends paragraph (III/1) of Circular No. 2 of 2026 on controls for the sale of foreign currency to individuals through exchange companies and bureaus. Exchange companies and bureaus are now limited to three bank accounts at a maximum of three operating banks in Libya, must report these accounts to the Banking and Monetary Supervision Department, and may not change them without prior approval. The instruction is addressed to the boards of licensed exchange companies and the managers of licensed exchange bureaus.
CircularTranslated to EnglishArabicForeign exchangeReporting requirements
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