Non-dealing with coins in Libya and its negative effects on society from an economic and legal point of view with the accounting treatment of cash.

Dr. Abdulhamid Ibrahim Maatouq

This study aims to identify the concept of money, types and origin of money, and the negative problems arising from the absence of dealing with coins and ways to treat them, along with the accounting treatment of cash. The study reached several key results, indicating that the absence of coins contributed to the phenomenon of inflation and allowed some merchants and treasurers to obtain additional non-halal income. Furthermore, the study highlighted that the Libyan economy uniquely neglects coins, leading to pricing goods to the nearest quarter dinar, forcing consumers to act irrationally from an economic perspective and enter into legal/religious suspicions.

Coins in Libya, negative effects on society, economic and legal aspects