Dr. Benzeer: Imposing fees on foreign currency transactions is not a Presidential Council’s decision
The Libyan professor of International Law and Human Rights, Dr. Ramadan Benzeer, has stated that the decision of the Presidential Council (300/2018) that imposes fees on selling foreign currency is illegal as it has been issued by a non-specialized and unauthorized entity.
“Such a decision shall be made by the board of directors of the Central Bank of Libya not the executive authority, knowing that the decision was made despite announcing force majeure, which wasn’t referred to in the decision.” Dr. Benzeer remarked.
He further explained that if the decision was challenged in courts, it would be annulled as it had been issued by an unauthorized body – Presidential Council – in the first place.
“If the decision was rendered null and void by the court, will Al-Sirraj – who has grown accustomed to looking away from applying rules and court verdicts – be committed to it.” Dr. Benzeer asked.
He elaborated that if the annulling happens, it could become just another one to be ignored like those of the Libyan Investment Authority, General Electricity Company and Telecommunication Holding Company.