The Tripoli based Libyan Ministry of Economy and Trade, Suhail Abu Shiha, issued decision 449/2026 today (dated 6 September 2026).
The decision is aimed at controlling the use of Libya’s hard currency and mitigating foreign currency and letters of credit fraud.
The decision entails:
- Defining "importing" as any operation involving the entry of goods and merchandise into Libya for the purpose of trade and resale, regardless of the mode of transport or point of entry used.
- Banning the import of goods and merchandise intended for trade outside the official banking channels, effective 30 September, as defined hy the Central Bank of Libya.
- Commercial shipments may not be cleared through customs until all prescribed banking, commercial, and customs requirements have been met and documentation proving the shipment's actual value has been submitted.
- With the exception for sole traders' activities (small traders), permitting owners to import goods and merchandise intended for trade within a specified annual limit.
- To benefit from this exception, individual business owners must hold a valid business license, comply with approved banking, commercial, and customs regulations and procedures, and submit documentation verifying the actual value of the shipments.
- Transitional provisions have been established for commercial shipments where import procedures commenced prior to the decision's effective date; these are subject to specific conditions and regulations, while also adhering to procedures approved by the competent authorities.
- Competent authorities are tasked with taking the necessary measures to implement the decision's provisions and ensuring compliance with the instructions and regulations governing import operations.
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