Internationally-renowned NGO criticises Tobruk for attempts to create rival central bank, NOC and investment authority

Internationally-renowned NGO criticises Tobruk for attempts to create rival central bank, NOC and investment authority

December 09, 2015 - 19:06
Posted in:
Written By: AbdullahBenIbrahim

New report by International Crisis Group argues that “efforts to create parallel institutions to the official ones in Tripoli should cease.”

The widely respected non-profit the International Crisis Group (ICG) has accused groups in Tobruk of “trying to set up parallel institutions” to those based in Tripoli.

In a report released on Thursday, the ICG states that “most regional and international actors remain committed” to the established Libyan Central Bank (CBL), National Oil Company (NOC) and Libyan Investment Authority (LIA).

The ICG calls on the international community to determine that “there can only be one CBL, NOC and LIA”, and that “efforts to create parallel institutions to the official ones in Tripoli should cease.”

Chairman and CEO of the Libyan Investment Authority AbdulMagid Breish applauded the ICG report which also raised concerns about Tobruk endeavours to create rival institutions or weaken the existing ones.

"I am pleased to see an organisation of the International Crisis Group's stature calling on breakaway factions to stop undermining the work of our country's independent national institutions, which have always been based in Tripoli and continue operating there for the benefit of the whole country." He said.