Our source has obtained official correspondence from the Central Bank of Libya regarding the increase of the ceiling for medical treatment in foreign currency to $20,000. The decision also permits exchange companies to carry out external transfers for small traders of up to $100,000 per single transfer and a maximum of $300,000 per year.
This authorization allows licensed exchange companies that meet the conditions outlined in the instructions to conduct direct external transfers on behalf of companies and small traders.
These transfers may also be used for legally permitted commercial, industrial, and service-related purposes, in accordance with the applicable regulations. The exchange company eligible to conduct external transfers must meet the following conditions:
In addition to being licensed by the Central Bank of Libya to carry out exchange activities, the company’s operating license must be valid and not subject to any precautionary measures, penalties, or suspension of activity that would prevent it from providing external transfer services.
