Return of the Central Bank of Libya as a Single Sovereign Institution
Governor Announces Unification
Governor of the Central Bank of Libya Al-Siddiq Al-Kabir announced today, Sunday, the return of the bank as a single sovereign institution.
Efforts to Address Consequences
The bank said in a statement on social media “X” that it will continue to make efforts to address the consequences of its division between the east and west of the country.
The statement added that the announcement came after an extended meeting held at the bank’s headquarters in the Libyan capital of Tripoli.
Positive Reactions
For his part, Libyan Parliament Speaker Aguila Saleh welcomed the unification declaration, saying: “All institutions and bodies should follow the example of this national step to end the state of institutional separation.”
The head of the government of national unity of Libya, Abdul Hamid al-Dabaiba, also welcomed the decision, saying: “I urge the governor and his deputy to continue to fight the consequences of division.”
Reunification Process
The Central Bank of Libya, like other state institutions, was divided after the events in Libya began, but began the process of reunification in 2020 as part of the post-ceasefire peace process.
Postponement of Presidential Election
The first presidential election in Libya’s history was scheduled to take place on December 24, 2021, but political disagreements between various parties to the Libyan crisis have led to its postponement.
3/1
In realizing the right to unify the Central Bank of Libya and the culmination of the efforts made by the national parties supporting unification and commemorating the unification of the Central Bank of Libya. rice.twitter.com/HVxD9oDqIq
- Central bank of Libya (CBL) (@CentralBankOfLy) August 20, 2023
Source: RT
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