The Libyan authorities have identified a type of corruption that they are keen to prevent relating to the import of goods from overseas and the subsequent payment for such goods. The authorities are also seeking to prevent the transfer of hard currency from the country.

The Central Bank of Libya has therefore introduced a new law titled "The Governor of the Central Bank of Libya Resolution 96 of 2015". An unofficial English translation of that law states that:

All commercial banks operating in the field of opening documentary credits for importing products from abroad are obliged to obtain a certificate issued from an international inspection company on the quality and amount of the imported products as part of standard procedures to open documentary credits. 

All commercial banks operating letters of credit upon request by suppliers of goods are obliged to submit declarations to the customs authorities which demonstrate and prove that the products have entered the Libyan ports. These declarations shall be submitted to the Central Band of Libya within two months from the date of receipt of these declarations by the banks. 

This law also states that all banks operating letters of credit for the import of goods must inform the Central Bank of Libya of any failure by their customers to comply with Resolution 96 of 2015 within the specified time limit

It should be noted that there are no specific penalties for non-compliance with this Resolution, but there are criminal penalties that apply to fraudulent activity in Libya.