As part of the Government's efforts to assist the overseas Filipino workers (OFWs) who were displaced by the conflict in Libya, the BSP has activated the LYD-CEF which allows OFWs and their families returning from Libya to exchange Libyan currency for Philippine pesos (PHP) up to a maximum amount equivalent to not more than PHP20,000.00 per eligible person. To avail of the facility, OFWs and their family members shall present documentary proof of their travel from Libya (original passport or original/certified true copy of the travel document issued by the Philippine Embassy in Tripoli with exit stamp by Libyan authorities and/or authorities from other countries that served as exit points for repatriation). The exchange may be done with the BSP Head Office, its Regional Offices and branches, as well as with authorized agent banks.
The facility will be available from 11 August to 9 December 2014. Detailed guidelines are in Circular No. 843, series of 2014 dated 8 August 2014 which is posted at the BSP website.