Libya bans pricing at black-market rates

Libya’s Minister of Economy and Trade, Mohamed Al-Hwaij, has issued a new measure, banning companies from pricing goods using black-market foreign exchange rates and ordering them to rely solely on official financial channels, Libya Review reported on February 5th.

The measure, Resolution No. 51 of 2026, applies to all commercial entities operating in Libya and requires companies unable to secure letters of credit for imports, to lodge official complaints with the Ministry of Economy and Trade.

The ministry will review the cases in coordination with the Central Bank of Libya to determine the reasons for any delay or rejection of credit.

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