Tripoli: The National Committee for Combating Money Laundering and Terrorism Financing at the Central Bank of Libya has urged all citizens and travelers passing through Libyan ports to declare their money and property at customs when traveling. This directive aligns with Resolution No. (6) of 2018, which outlines the monetary amounts that must be declared.

According to Libyan News Agency, the committee issued a statement today emphasizing that the requirement to disclose funds is a legal obligation, not just a procedural formality. This measure is intended to protect travelers from potential legal or financial repercussions. The statement warned that failing to declare funds in the country of departure could lead to confiscation by the authorities in the destination country, thereby subjecting the traveler to legal challenges.

The statement, available on the Central Bank of Libya's official page, reiterated the necessity for citizens to proactively declare their funds using the designated customs forms at Libyan ports. The committee clarified that under Resolution No. (6) of 2018, travelers are allowed to carry certain amounts without declaration, specifically up to 200 Libyan dinars in cash and up to 10,000 US dollars or its equivalent in foreign currencies. Any amount exceeding these limits must be declared through a disclosure form submitted to customs officials.

The statement concluded by highlighting that adherence to these procedures is crucial for protecting citizens from legal consequences and the confiscation of their assets. It also plays a vital role in safeguarding the national economy and strengthening efforts to combat money laundering and terrorist financing.