The Ministry of Economy and Trade reported yesterday that during a meeting in Tripoli with the Director General of the Customs Authority, the Minister of Economy and Trade, Suhail Abu Shiha, reviewed the implementation of the decision regulating the import of goods and merchandise via banking channels, as well as coordination mechanisms among relevant entities to ensure its enforcement at customs entry points.
The meeting addressed the foreign trade compliance report, examining the consequences of over 12 years of imports occurring outside regulated banking channels, and the resulting challenges regarding oversight, monitoring, and product quality assurance.
Participants emphasized the necessity of adhering to legislation and regulations governing foreign trade. The Customs Authority reported that the required instructions had been circulated to all customs entry points to ensure standardized implementation procedures.
The Ministry of Economy and Trade said this follow-up is part of its efforts to regulate import flows and enhance compliance with established regulations, thereby supporting the protection of the national economy and the stability of the local market.
Decision 449/2026 banning imports
It will be recalled that on 7 September the Tripoli based Libyan Ministry of Economy and Trade, Suhail Abu Shiha, issued decision 449/2026 (dated 6 September 2026) banning the import of goods and merchandise intended for trade outside the official banking channels, effective 30 September.
The decision is aimed at controlling the use of Libya’s hard currency and mitigating foreign currency and letters of credit fraud.
Libya Bans Informal Commercial Imports Starting September 30