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On Tuesday, 28/10/2025, at the Central Bank of Libya headquarters, Mr. Fathi Al-Amin Al-Turki, chairman of the chamber’s board of directors, along with Mr. Abdulmajid Al-Taher Balaou, vice chairman of the board of directors, met with Mr. Naji Mohammed Issa, Governor of the Central Bank of Libya, and representatives of small businesses.

We discussed the importance of halting the decision due to its direct negative impact on imports and meeting the needs of the local market, as many countries do not accept letters of credit from Libya.

We also agreed to facilitate banking procedures, most notably:

Accepting applications for letters of credit not exceeding $500,000 independently within the letters of credit coverage system.

Executing direct transfers of up to $100,000 per transaction.

Reactivating the use of documents for collection and processing payments via direct transfers to the beneficiary company. Addressing any obstacles hindering the use of cards for genuine small traders.

Establishing direct communication channels with this important segment of suppliers and traders, and coordinating with the Ministry of Economy and Trade.

Agreeing to activate the tracking system, to be managed exclusively by the Central Bank of Libya, given its crucial role in curbing currency smuggling, speculation, and the trafficking of drugs and spoiled food.

We extend our sincere thanks and appreciation to the Governor of the Central Bank of Libya for his efforts and generous response to the demands of small traders, and his commitment to supporting the private sector and removing obstacles for traders and manufacturers, thereby contributing to strengthening economic activity and supporting financial stability in the country.