Libya’s central bank suspends currency tax as new leadership takes the helm

Libya’s central bank has suspended a controversial tax on foreign currency sales, just as new leadership takes over.

The tax, set at 27%, was introduced earlier this year but faced legal challenges and was suspended by courts in several cities. The decision to scrap the tax comes as Naji Issa takes over as the new governor, with Marie Al-Barasi as his deputy.

Both the House of Representatives and the High Council of State have unanimously approved the new appointments, signalling a potential shift in Libya’s economic policy.