Dollar trade in the black market at these times is haraam, Libya's Grand Mufti Sheikh Sadiq Al-Gharyani said on Wednesday, after soaring dollar exchange rates sparked fear of economic collapse.   

Speaking to Tanasuh TV, he clarified that buying the dollar now for urgent needs such as medical treatment and education fees is allowed but buying it for trade is banned because of the difficult economic situations in the country.

" I warn all people  now in the market who are dealing and trading in the dollar, I warn them, it’s haraam." He says.

One dollar is sold at LYD 3.55 in the black market. Many people are accusing the Central Bank of Libya for not taking an action to stop the deterioration of the Libyan dinar in the market.

Tags: