Against the backdrop of protests by some small traders and representatives of chambers of commerce and industry regarding the Ministry of Economy and Trade’s decision to prohibit import, export, and re-export activities except through banking operations, H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, met on, Tuesday, October 28, 2025, with the Chairman of the Chamber of Commerce and Industry in Misrata and several representatives of the small traders’ movement.

During the meeting, participants discussed the necessity of implementing Ministry of Economy Decision No. 42, given its direct impact on regulating import and export activities in a manner that complies with anti-money laundering and counter-terrorism financing laws, while contributing to limiting the spread of currency speculation in the informal market.

After listening to the demands and observations of traders, industrialists, and businesspeople, and reviewing the Central Bank of Libya’s vision for implementing a set of economic reforms, it was agreed to facilitate banking procedures for small traders by granting several advantages. These include accepting applications for opening letters of credit not exceeding $500,000 independently within the coverage system, initiating direct transfers, reactivating operations using documents for collection and executing payments through direct transfers to reach the beneficiary companies directly, as well as addressing any obstacles affecting the use of cards for genuine small traders.

The meeting also agreed to establish direct communication channels with this important segment of real suppliers, coordinate with the Ministry of Economy and Trade on these matters, and continue publishing periodic explanatory reports to ensure clarity and transparency in banking operations for small traders.