Ministry of Economy performs another U-turn: Goods can now be imported without bank payment
The Tripoli based Libyan Ministry of Economy and Trade announced yesterday that its Minister, Suhail Abu Shiha, issued Decree No. (555) of 2026, which regulates the importation of goods and commodities using foreign currency from the parallel market. The decree permits such imports on a temporary basis—subject to established legal regulations and procedures—until 31 March 2027. Justifying the U-turn, the Ministry said this decision is intended to regulate import operations and oversee trade financing mechanisms. It said certain essential goods and medicines are excluded from this authorization; any exceptions regarding these items will require prior approval from the competent authorities.