Central Bank of Libya Announces Unification

Central Bank of Libya Announces Unification
Central Bank of Libya Announces Unification

The Governor of the Central Bank of Libya (CBL), Al-Siddiq Al-Kabir, alongside Deputy Governor Marai Miftah Rahil, declared that the bank re-established itself as a unified sovereign entity.

During a meeting that included department directors and advisers of the CBL branches in Tripoli and Benghazi, they emphasized their ongoing efforts to address the impacts resulting from previous divisions.

The meeting represents the commitment to unify the CBL, and marks the culmination of endeavours made by national stakeholders supporting this unification.

Notably, debates have surged across Libyan social media platforms following the release of the total expenditures of the Libyan Parliament and its affiliated entities, totalling approximately 895 million Libyan Dinars (LYD) from January to July this year.

Responding to the CBL’s statement, Abdullah Blaiheg, the official Spokesman for the Parliament, criticised the bank’s approach, which “generalised the Parliament’s spending as a lump sum without delving into a detailed breakdown.” He emphasised the need for a “more transparent, itemised representation, accusing the bank of presenting information that could be perceived as incomplete or skewed.”

In a report published by the CBL expenses for 18 entities connected to the Parliament were recorded.

The Spokesman clarified: “The financial expenditure reports released by the CBL encompass more than just the Parliament. They include expenses related to several bodies such as the General Intelligence, the Audit Bureau in the east and west, Administrative Control bodies, and the National Planning Council, among others.”