Faraj Aqaim, Undersecretary of the Ministry of Interior in the Libyan government, warned currency traders in areas under the control of the Libyan Armed Forces against keeping large sums of money in their homes or farms without a license, emphasizing that such actions constitute a clear violation of the law.
Aqaim explained that some of these traders, aged between 20 and 25, are holding up to 25 million Libyan dinars in their shops, while some banks do not even have one million dinars available, describing the situation as illogical.
He confirmed that a final warning has been issued to traders to immediately open their shops, with specialized officers accompanying them to the banks to deposit the money in their accounts, providing necessary protection until the deposits are completed. He stressed that all financial transactions must be conducted through checks, bank cards, and other legal methods approved by the state.
Aqaim added that the Anti-Corruption Prosecutor’s Office will begin its operations starting tomorrow, and that any violating shops will be confiscated and subjected to the “Where Did You Get This From?” law, following orders from the General Command. Offenders will be sent to prison, whom he described as “Public Money ISIS.”
He noted that measures taken in eastern Libya, including closing exchange offices and returning hoarded funds to banks, contributed to halting the parallel market trading of dollars for the day.
