Governors of Libya’s central bank agree on auditing conditions

Governors of Libya’s central bank agree on auditing conditions

November 08, 2018 - 20:29
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Written By: AbdulkaderAssad

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The UNSMIL said on Twitter on Wednesday that the governor of the Tripoli-based Central Bank of Libya (CBL) Al-Siddiq Al-Kabeer and the governor of the parallel CBL in Al-Bayda, Ali Al-Hibri, agreed on accounts’ auditing conditions.

The two governors met with the Head of the UNSMIL, Ghassan Salame, and his deputy for political affairs, Stephanie Williams.

UNSMIL is going to choose an international company to audit the accounts of the CBL in Tripoli and Al-Bayda in a span of four months under its own supervision.

Local media reported reliable sources as saying both governors had agreed to audit the past years' budgets, general debts, and foreign currency reserves, besides letters of credit granted in the last seven years.

"Three teams will be tasking up the task: the first is a consultive team, the second is technical, and the third is a financial team." Sources added.

Sources added that the consultive team will be including among other members (5 to 7) the UN envoy Ghassan Salame, while the technical team will be members from the International Organization of Supreme Audit Institutions.

They remarked that the third team will later be selected by both governors and the UNSMIL.

The Head of the Presidential Council, Fayez Al-Sirraj, asked the UN Security Council last July to form an international committee to audit the CBL's work in both Tripoli and Al-Bayda.

Both CBL governors welcomed the step at the time.

The CBL split into Tripoli and Al-Bayda administrations in 2014 after the political division started in Libya. Al-Kabeer was fired by an order from the House of Representatives and Al-Hibri was named as governor, but the order remained ink on paper.

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