Al-Sarraj urges for emergency meeting to unify Central Bank of Libya

Al-Sarraj urges for emergency meeting to unify Central Bank of Libya

April 02, 2020 - 19:23
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Written By: AbdulkaderAssad

The Head of the Libyan Presidential Council Fayez Al-Sarraj has called on the administration of the Central Bank of Libya (CBL) to attend an emergency meeting to take necessary and urging measures to unite the CBL.

The Head of the Presidential Council said in a statement on Thursday that his government was ready to provide assistance to hold the meeting for the CBL and follow up on its outcome, urging the UNSMIL to support this procedure.

He also said that the individual approach and one-man decision-making should come to an end at the CBL.

"The individual authority of the monetary policies of the CBL should end. No more personal viewpoints in the place of the institutional ones." Said Al-Sarraj.

He also said that this man at the CBL - referring to the CBL Governor Al-Siddiq Al-Kabir - had halted the transfer and clearing systems at the bank and delayed salaries that had been referred to the CBL on a monthly basis by the Ministry of Finance.

Al-Sarraj indicated that this behavior has caused huge damage to the income of Libyan citizens, in addition to the interference in state economic and financial policies, saying such a behavior could have serious consequences.

Over the last period, the Presidential Council and Central Bank of Libya weren't on the same page amid a state of financial problems as Al-Sarraj accused Al-Kabir of monopolizing the decisions of the bank while the former said Al-Sarraj didn't finalize the decisions regarding budget approval and fees on dollar purchase transactions.

The meeting called for by Al-Sarraj seems out of reach at this time as at least two members of the CBL administration, including the Governor of the east-based CBL Ali Al-Hibri, are in Benghazi and in favor for Haftar and his war on Tripoli, knowing that Al-Hibri said earlier that all the funds of the CBL should go to Haftar's forces so they can accomplish their military operations in Tripoli.