Libya's Attorney General Warns of Tough Legal Action on Economic Crime
The talks centered on tackling unlawful trading activities that exploit fluctuations in exchange rates between the Libyan dinar and foreign currencies. Both officials stressed that such speculative practices inflict direct harm on the economy, driving up prices and undermining public confidence in the financial system. They agreed that the Libyan economy is protected under national law and that violators will face firm legal action.
The meeting also reviewed ongoing efforts to combat money laundering, with the Central Bank presenting updates on oversight mechanisms designed to track suspicious transactions and close loopholes in the banking sector. Al-Sour emphasized that accountability is key, warning that financial crimes not only damage the domestic economy but also tarnish Libya's standing in the global financial community.
Governor Issa outlined new administrative and financial controls, including the use of time-bound procurement contracts for fuel imports. This system, he said, enhances transparency in the fuel supply chain, curbs opportunities for corruption, and ensures public funds are used efficiently.
Both sides pledged to step up cooperation between judicial, regulatory, and enforcement agencies, creating a unified front against economic crimes. They also reaffirmed their commitment to sharing intelligence, improving monitoring systems, and ensuring that any breaches are met with swift legal consequences.
The meeting comes as Libya faces mounting pressure to align with international standards on anti–money laundering and counter-terrorism financing. Failure to comply could result in damaging restrictions from global financial institutions. Domestically, public frustration is rising over the black-market currency trade, which many blame for inflation, reduced purchasing power, and worsening living conditions. Tags: Attorney GeneralCentral BankeconomylibyaMoney
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