The Libyan House of Representatives is working on a draft law to combat money laundering, smuggling, and the financing of terrorism.
The initiative was announced by Youssef Al-Agouri,chairman of the committee investigating Libya’s frozen funds abroad, who emphasised the importance of this legislative effort in promoting financial transparency and stability.
Al-Agouri highlighted that the proposed law represents a crucial step towards enhancing the legal framework to combat financial crimes, which will help stabilise national financial institutions.
He reaffirmed the House of Representatives’ commitment to ensuring that Libya’s financial institutions adhere to transparency and accountability.
The draft law is expected to be presented to parliament for discussion and feedback from lawmakers.
Al-Agouri also expressed the importance of maintaining a stable economic environment, reassuring that Libya’s financial situation is currently stable and there are no significant threats to the Libyan currency.
He welcomed suggestions and feedback to strengthen financial transparency and good governance within Libya’s banking system.
Al-Agouri reiterated that economic stability remains a top priority for the House of Representatives due to its direct impact on the living standards of Libyan citizens.
The move reflects Libya’s efforts to combat financial crimes, improve the country’s financial governance, and strengthen the economy amid ongoing political and economic challenges.
