Week of
Libya, Nigeria and Panama published regulatory measures on exchange rates, capital requirements and insurance reporting. The Central Bank of Libya issued a circular fixing the official exchange rate of the Libyan dinar for all purposes at the rate set by the Board of Directors' decision of 14 January 2026, as published in its daily foreign currency buy/sell bulletin, citing its supervisory role and Law No. 1 of 2005 on banks. Nigeria's Securities and Exchange Commission published guidelines revising minimum capital requirements for regulated entities in the capital market, aimed at investor protection, market resilience and stability, and a risk-sensitive, proportionate framework aligned with the nature, scale and complexity of regulated activities and consistent with IOSCO principles. Panama's Superintendency of Insurance and Reinsurance declared the Unique Insurance Report (INUSE) system obsolete because its structure and accounting catalog do not cover IFRS 17 requirements under Agreement No. 1 of January 12, 2024, requiring a final INUSE report for the 2025 fiscal close and, from 2026 reports, submission through the institutional SharePoint. The three records span a central bank, a securities regulator and an insurance supervisor, and cover exchange-rate application, capital adequacy and reporting-system transition.
Libya
Circular No. (2026/10) Regarding the Official Exchange Rate of the Libyan Dinar
The Central Bank of Libya instructs the general managers of banks that the official exchange rate of the Libyan dinar for all purposes is the rate set by the Board of Directors' decision at its first meeting of 2026 (14 January 2026), as published in the Central Bank's daily foreign currency buy/sell bulletin. The circular is issued under the supervisory role of the Central Bank and Law No. 1 of 2005 on banks, and matters because it fixes the reference rate banks must apply to foreign currency transactions.
CircularTranslated to EnglishArabicForeign exchange
Nigeria
Guidelines On Revised Minimum Capital For Regulated Entities
The Securities and Exchange Commission (SEC) of Nigeria published guidelines revising the minimum capital requirements for regulated entities in the Nigerian capital market. The guidelines aim to promote investor protection, enhance market resilience and stability, and establish a risk-sensitive, proportionate capital framework aligned with the nature, scale, and complexity of regulated activities, consistent with IOSCO principles.
GuidelinePublished in EnglishEnglishCapital requirementsCorporate governance
Panama
Temporary deactivation of the INUSE system and submission of information
The Superintendency of Insurance and Reinsurance of Panama formally declares the Unique Insurance Report (INUSE) system obsolete because its structure and accounting catalog do not cover the requirements of IFRS 17, established through Agreement No. 1 of January 12, 2024. Insurance companies must submit their last report in INUSE with the information for the close of the 2025 fiscal period, and starting from the reports for the year 2026, the system will be decommissioned, temporarily replaced by the submission of information through the institutional SharePoint.
CircularTranslated to EnglishSpanishReporting requirements
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