Naji Issa, Governor of the Central Bank of Libya (CBL), and Major General Emad Al-Trabulsi, Minister of Interior, discussed a joint action plan aimed at curbing negative phenomena in the Libyan economy.
The expanded meeting was held to discuss shared economic and security issues affecting the banking sector and the financial stability of the country.
More specifically, the meeting, held today the CBL’s Tripoli headquarters in the presence of leaders of the security agencies affiliated with the Ministry and several department directors from the CBL, addressed curbing the foreign currency black-market and its eventual elimination, given its detrimental effects on the national economy and exchange rate stability, as well as its direct impact on citizens’ lives.
The plan also seeks to reduce smuggling across land borders and the phenomenon of imports outside the banking system, which leads to the importation of substandard and prohibited goods.
Forming a joint working group
At the conclusion of the meeting, it was agreed to form a joint working group comprising security agencies, the Ministry of the Interior, and the Central Bank of Libya. This group will develop a mechanism and strategy to combat companies and shops operating without the necessary licenses from the CBL, take deterrent legal measures against them, grant them a grace period to rectify their status, and put an end to speculative trading in the market.
