Libya's Provisional Government Reminds of Currency Transport Limit to Tunisia
The Libyan provisional government of national unity reminded travelers last week that the maximum amount of money allowed to be transported during a trip to Tunisia is $1,700, equivalent to 5,000 dinars. This condition, imposed by Tunisian authorities, aims to limit the risks of money laundering and tax evasion. However, Libyans can still access liquidity through recognized banking and financial channels.
It is undeniable that security and terrorist risks from the East are high. The country remains unstable, and the political scene is deeply divided. Implementing strict border control is a necessary condition to ensure that the tourist season is not disrupted.
Furthermore, on a fiscal level, it is well-known that not all Libyans entering Tunisia stay in hotels. They use the same channels as Tunisians, renting houses and consuming from local merchants. Everything is paid in cash, allowing service providers to avoid paying taxes. In 2023, 2,254,200 Libyans crossed our borders, while hotel nights did not exceed 618,500 in the first nine months of 2023. This significant gap opens the door to a long list of fraudulent practices.
This rule will also apply to Algerians and all tourists arriving in the country. Therefore, there is a greater rigidity in the application of laws and a determination to combat cash circulation. This is not good news for currency exchange offices, but an additional business opportunity for banks.