Our source has obtained a copy of a decision issued by the Minister of Economy in the Libyan government regarding the ban on carrying out import and export activities except through banking operations.
The decision also stipulates prohibiting joint companies or branches of foreign companies from carrying out any financial transfers except through approved banking operations, including transfers required for establishment and the amounts allocated for setting up branches and managing them.
The Minister of Economy in the Libyan government addressed the Customs Authority, instructing it to stop allowing the entry of any goods through customs outlets that are not linked to documented banking operations (“letters of credit, direct transfers, documents against collection”). The directive also calls for verifying the source of funds, the path of converting the Libyan dinar into foreign currency outside the banking system, identifying intermediary parties, and subjecting goods imported under such exceptions to strict inspection procedures.
