By Libya Herald reporter.
Tunis, 28 January 2016:
The Tripoli-based Libyan Audit Bureau has today suspended four bank managers for corruption. The decision . . .[restrict]dated yesterday was published today.
Three employees were from Jumhouriya bank and one from North Africa Bank. The Jumhouriya bank employees include the General Manager of the bank and the Manager of the Risk Department. Jumhouriya bank is the largest bank in Libya.
In letters from the Audit Bureau directed at the two banks, the suspended employees are charged with misuse of their job positions and other derelictions leading to the misuse of public funds. They have also been barred from holding any future leading positions.
It will be noted that this is a very rare case of Libyan state employees being publicly named and suspended by the state from work for alleged corruption.
The action by the Audit Bureau comes within a wider effort by both the Audit Bureau and the Central Bank of Libya to fight corruption in Libya during a transition period where state institutions and security enforcement agencies are weak.
The Audit Bureau have been fighting hard to counter corruption involving hard currency in the form of Letters of Credit and fake imports.
The efforts to save Libya’s fast depleting hard currency reserves come at a time when the Libyan economy is struggling due to a fall in oil exports and the crash in international crude oil prices. [/restrict]