No Result
View All Result
Friday, March 20, 2026
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

State Council orders CBL to stop financial dealings with expired GNC

bySami Zaptia
April 13, 2016
Reading Time: 2 mins read
A A
State Council orders CBL to stop financial dealings with expired GNC

The State Council orders CBL to cease financial dealings with GNC.

By Sami Zaptia.

The State Council orders CBL to cease financial dealings with GNC.
The State Council orders CBL to cease financial dealings with GNC.

London, 13 April 2016:

As partially reported by Libya Herald yesterday, more details have emerged of the State Council’s . . .[restrict]instructions to the Central Bank of Libya (CBL) regarding dealings with the GNC.

In a letter that has been made public today, the High State Council led by Abdulrahman Swehli has ordered the CBL to cease all financial dealings with the GNC.

The letter stated that the GNC had expired and, by implication, no longer had any authority or legitimacy.

RELATED POSTS

CBL to abolish tax on foreign exchange sales and tax on foreign exchange personal allowance to a rate of 6.37 dinars to the dollar

CBL allows official foreign residents in Libya the use of e-Wallets – sets daily transfer categories

The latest statement by the High Council puts it and the GNC squarely in a head-to-head battle for authority and legitimacy. The State Council letter says that it is currently the relevant body.

The action by the State Council overlooks the fact that the House of Representatives (HoR) considers its early formation premature ahead of a vote by the HoR on a necessary constitutional amendment and ahead of a vote of confidence in the Government of National Accord (GNA).

The open warfare between the State Council, overwhelmingly dominated by former GNC members, and the rump of the GNC still clinging on to power, further exposes the split and power struggle between the two GNC factions.

It also belies their 2014 claims that their military fight to control Tripoli has been all along one of principles and ideology, rather than for continued power.

The situation put the poor CBL in a very tight situation, caught between taking orders from the rump GNC and its Salvation Government, the State Council and the Presidency Council/Government of National Accord and the HoR and Thinni government in the east.

The CBL has maintained that it has attempted to remain a technocratic, independent financial body. However, de facto power in Tripoli by the Salvation Government had meant it had to deal with the local authority. It will be interesting to see if it recognizes the questioned authority of the State Council.

Where the CBL decides to stand will be pivotal as most Libyans live off a state salary. Whichever body gains the loyalty of the Tripoli-based CBL will gain de facto control of Libya’s purse strings, and hence control over Libya.

It will also be interesting to see if the rump GNC and its Salvation Government will attempt to use force, through their allied militias in Tripoli, to coerce the CBL into implementing their instructions and paying their handsome salaries. [/restrict]

Tags: Abdulrahman SwehliCBL Central Bank of LibyafeaturedGNA Government of National AccordGNC General National Congress

Related Posts

PM Aldabaiba reopens Tripoli Zoo after a 17-year closure: a symbolic turnaround for the Zoo – from a militia military base back to a leading recreation destination
Libya

PM Aldabaiba reopens Tripoli Zoo after a 17-year closure: a symbolic turnaround for the Zoo – from a militia military base back to a leading recreation destination

March 17, 2026
Minister of Local Government discusses joint programmes and strengthening development cooperation with GIZ
Libya

Government Emergency Team holds meeting to review response to yesterday’s rainstorm – as one youth reported dead in Tajoura

March 17, 2026
Emergency bad weather holiday announced today in Greater Tripoli as western Libya was hit by a passing storm of strong winds and heavy rain – many roads flooded, drivers stranded
Libya

Emergency bad weather holiday announced today in Greater Tripoli as western Libya was hit by a passing storm of strong winds and heavy rain – many roads flooded, drivers stranded

March 17, 2026
Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges
Libya

Hafters vow to continue uncontrolled public spending – refuse to cut spending to save Libya’s economy – veiled threat to cut off oil supplies

March 15, 2026
Mellitah Oil and Gas launches its tree planting campaign at El-Feel oil field
Libya

Mellitah Oil and Gas launches its tree planting campaign at El-Feel oil field

March 14, 2026
ACA reveals 94,000 cases of state sector salary duplication in 2015
Libya

ACA continues to receive reports of abuse and corruption in public entities from whistleblowers on its Raqeeb website – reaffirms guarantee to protect informants’ identity

March 14, 2026
Next Post

IS in deadly desert ploy; six reported killed

Tripoli CBL holds meetings in Rome

Tripoli CBL holds meetings in Rome

Top Stories

  • Libya discusses new electricity and oil projects with Italy’s ENI

    BREAKING: Eni announces new offshore gas discoveries in Libya of more than 1 trillion cubic feet – gas to supply Libyan domestic market and for export to Italy

    0 shares
    Share 0 Tweet 0
  • Hafters vow to continue uncontrolled public spending – refuse to cut spending to save Libya’s economy – veiled threat to cut off oil supplies

    0 shares
    Share 0 Tweet 0
  • Emergency bad weather holiday announced today in Greater Tripoli as western Libya was hit by a passing storm of strong winds and heavy rain – many roads flooded, drivers stranded

    0 shares
    Share 0 Tweet 0
  • PM Aldabaiba reopens Tripoli Zoo after a 17-year closure: a symbolic turnaround for the Zoo – from a militia military base back to a leading recreation destination

    0 shares
    Share 0 Tweet 0
  • Aldabaiba reveals his new ministerial appointments – top posts of Interior, Oil and Gas, Foreign Affairs and Defence remain unchanged: Report and analysis

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Production at the Sharara field continues despite pipeline fire – production diverted via other pipelines: NOC

PM Aldabaiba reopens Tripoli Zoo after a 17-year closure: a symbolic turnaround for the Zoo – from a militia military base back to a leading recreation destination

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.