Libya's Grand Mufti Sheikh Al-Sadiq Al-Gharyani said the direct cause of the ongoing price hike in the country is the horrible financial corruption in all its forms, money laundry, thefts, fabricated contracts, armed burglary, and administrative corruption.
He said in an article published Saturday that the Central Bank of Libya stood watching and never moved along as its role has been contracted to only issuing warning reports and scaring people of the future if the situation did not change.
“Unfortunately, it is unable to make brave decisions to reform and fix the situation and to limit the corruption found in some of its administrations and other commercial banks administrations, which have now turned into power and authority institutions.” He added.
The Mufti added the CBL, the commercial banks and the government had to cooperate to put a decisive end to the current “destructive” corruption, before it was spread out and became the fashion of the day.
He urged them to make radical changes in their administrations if they want to get back on the Libyan people’s side.
"Bank officials today are either unable to do their jobs and control the ongoing corruption, or they are involved in it." He says.