Exclusive: Central Bank Governor Urges Interior Ministry to Curb Currency Speculation Outside Official Channels and Unlicensed Locations

Our source has exclusively obtained a letter from the Governor of the Central Bank of Libya addressed to the Minister of Interior in the Government of National Unity.

In the letter, the Governor called for strict and deterrent measures to limit and eliminate the practice of buying and selling foreign currency outside official channels and in locations not licensed by the Central Bank of Libya. He urged the enforcement of legal penalties against individuals and entities involved in this illegal activity.

The Governor noted that the Central Bank has granted licenses to a number of exchange companies and offices, authorizing them to conduct foreign currency transactions. These entities are tasked with buying and selling foreign exchange according to the law and through official channels—namely, through the licensed companies and exchange offices established under the legal framework.

He emphasized that speculation in foreign currencies has become an openly organized activity in the parallel market and now represents one of the biggest economic challenges facing both the Central Bank and the Libyan state. This illegal trade fuels demand for foreign currency in the parallel market, which in turn finances illicit activities and contributes to the expansion of money laundering and terrorism financing.