Tripoli government grants Ministry of Economy judicial authority, suspends 27 companies
The Tripoli government has granted the Ministry of Economy and Trade the authority of Judicial Officers to enforce the Commercial Activity Law. Following this, the Ministry announced the suspension of commercial activity for 27 companies. This action is part of a review of companies benefiting from letters of credit to ensure compliance with foreign trade regulations. The Ministry stated that the total value of letters of credit under review is approximately US$146.7 million, obtained by these companies during the first seven months of 2026 for imports and economic activities. These letters of credit were distributed among three main beneficiaries: E.A.A. with approximately US$79.0 million, H.I.A. with approximately US$52.2 million, and A.A.A. with approximately US$15.5 million. The decision includes suspending the commercial registration, importers' register, and licenses of companies linked to these beneficiaries, pending examination and review by competent authorities. The Ministry emphasized that these measures aim to enhance transparency, governance, and monitoring of letters of credit, ensuring procedural integrity and protecting the national economy from practices that could harm fair competition or foreign trade efficiency. This is a precautionary and regulatory measure to verify data and legal obligations, with final results to be announced after the review and audit process.
