The Governor of the Central Bank of Libya, in his capacity as Chairman of the Anti-Money Laundering and Counter-Terrorism Financing Committee, circulated a decision to the Customs Authority specifying the amounts of cash currency that must be declared by passengers when completing a currency declaration upon entering or leaving Libya.
The leaked CBL circular reveals that the new ceiling of the authorised cash amounts has been raised from US$ 10,000 to US$ 30,000. Moreover, the CBL confirmed its intention to gradually raise the ceiling to encourage the ingress of currency to Libya and enhance transparency.
The CBL also issued instructions to circulate it to all ports of entry to set up signboards and allocate places for filling out the forms, as part of efforts to regulate the movement of funds.
