Libya’s central bank resumes amid division over governor

3 months ago 51

By NAN

20 August 2024 | 12:15 pm

Libya’s central bank said it has resumed its operations after a brief suspension, due to a dispute between the country’s rival administrations deepens over the position of the bank’s governor. READ ALSO:Libyans’ military training camp in South Africa illegal, suspended The central bank said on Monday it was halting all operations until its IT…

Libya’s central bank said it has resumed its operations after a brief suspension, due to a dispute between the country’s rival administrations deepens over the position of the bank’s governor.

The central bank said on Monday it was halting all operations until its IT manager, who was kidnapped by an unknown group, is released and returns to work.

On the social media platform X, the bank said its governor Al-Siddiq al-Kabir held a meeting in his office with several departmental heads to follow up on the resumed operations.

He said the resumption of duty on Monday was after the official’s safe return.

A photo showed al-Kabir chairing the meeting, in what seemed as a defiant move to a decision by the Presidential Council the day before to dismiss al-Kabir.

Libya has been divided between two rival administrations in the West: a Unrecognized Tripoli government led by Prime Minister Abdel-Hamid Dbeibeh.

The other government in the east is backed by parliament and military strongman Khalifa Haftar.

Rising tension in recent weeks between the two, and the affiliated militia, raised fears of fresh fighting.

The Presidential Council was elected years ago as part of a transitional government scheduled to lead the country until nationwide elections planned for the end of 2021.

However, due to disputes over the electoral law and constitutional principles, the elections never took place, and the council and the Tripoli-based government remained in power.

On the other hand, the eastern-based parliament backs al-Kabir. Parliamentary Speaker Aguila Saleh rejected the Presidential Council’s decision on Monday.

He said selection of sovereign positions, including the central bank’s board of directors, was within the parliament’s jurisdiction.

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