Libyan authorities have closed between 200 and 300 unlicensed currency exchange offices as part of a nationwide campaign aimed at enforcing financial regulations and combating illegal money trading.
Speaking to Fawasel Media, the spokesperson for the Municipal Guard, Mohammed Al-Naem, said the closures followed a directive issued by the Central Bank of Libya, which provided official lists of licensed exchange companies and offices operating legally across the country.
Al-Naem explained that the campaign began last Wednesday and targeted exchange offices that failed to obtain proper authorisation from the Central Bank. The operation was carried out in multiple cities and regions, reflecting a coordinated national effort to restore order to the foreign exchange market.
He noted that in previous years enforcement efforts were hindered by a lack of clarity regarding the types and formats of licences issued by the Central Bank. This uncertainty, he said, made it difficult for inspection teams to distinguish between legal and illegal operations.
“Once the Central Bank supplied us with comprehensive and verified licensing data, the picture became clear,” Al-Naem said. “Any exchange office operating outside the approved framework is now considered in violation and subject to immediate closure.”
The Municipal Guard confirmed that inspections are ongoing and that further closures are expected if additional violations are identified. Officials stressed that the campaign is not temporary and will continue until full compliance is achieved.
Authorities believe the move will help curb currency speculation, stabilise the Libyan dinar, and limit illicit financial activities linked to the informal exchange market. The Central Bank has repeatedly warned that unregulated exchange offices pose serious risks to economic stability and consumer protection.
Al-Naem emphasised that licensed exchange offices have nothing to fear, urging business owners to regularise their status and adhere strictly to Central Bank regulations.
The campaign reflects growing efforts by Libyan institutions to tighten financial oversight and reinforce the rule of law within the country’s fragmented economic landscape.
