Tripoli: The Ministry of Interior and the Central Bank of Libya have reached a significant agreement to combat the parallel market for hard currency. Interior Minister of the Government of National Unity, Major General Emad Al-Tarabulsi, and Governor of the Central Bank of Libya, Naji Issa, have agreed on measures to address issues related to speculation in the dollar exchange rate.

According to Libyan News Agency, the agreement was made during a meeting at the Central Bank, attended by leaders from the Interior Ministry's security agencies and several department directors from the bank. The discussions focused on shared economic and security concerns affecting the banking sector and the nation's financial stability.

The meeting resulted in a joint action plan aimed at mitigating negative phenomena in the Libyan economy. This includes targeting the activity of the parallel currency market and its eradication due to its adverse effects on the national economy and exchange rate stability. Additionally, the plan seeks to reduce smuggling across land borders and control imports conducted outside the banking system, which often results in the entry of substandard and prohibited goods.

The discussions also covered the challenges posed by money transfers conducted outside the legal framework, highlighting the economic and security threats they pose. This necessitates intervention by the Ministry of Interior and its relevant agencies, in collaboration with the Central Bank of Libya.

Furthermore, it was agreed to establish a joint working group consisting of security agencies, the Ministry of Interior, and the Central Bank of Libya. This group will develop a strategy to address companies and shops operating without the necessary licenses from the Central Bank. They will take legal action against these entities, grant them a grace period to comply with regulations, and work to eliminate speculative trading in the market.