Morocco is allowing firms partly owned by Libyan authorities to conclude current transactions

@Libyan4lifeJeel Ghathub

Morocco lets Libyan firms operate, with some limits.af.reuters.com/article/libyaN… #Libya #Feb17

LONDON Aug 2 (Reuters) - * Morocco lets Libyan firms stay in business

* Transfer of dividends, debt payment barred

RABAT, Aug 2 (Reuters) - Morocco is allowing firms partly owned by Libyan authorities to conclude current transactions that would keep them in business - but without transferring dividends, selling their stakes or paying back debt.

Morocco is part of the Western-led contact group overseeing political governance of the NATO-led military intervention in Libya and the implementation of U.N. resolutions, but has not diplomatically recognised the rebels.

In replies to Reuters questions received on Tuesday by email, foreign exchange regulator Office des Changes said Libyan-owned firms may pay operating expenses incurred locally and internationally and cash-in local dirham currency proceeds from exports.

The measures apply to "Moroccan firms whose capital is partially or totally owned by Libyan individuals or corporations," it said.

"This decision was taken in order to allow these firms to conduct their business in good conditions and meet their commitments vis-à-vis foreign suppliers. It thus does not affect the spirit of the U.N. Security Council resolutions on freezing Libyan assets," the regulator said.