No Result
View All Result
Thursday, January 15, 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

Dollar breaks LD 9 mark on black-market for first time since December 2017

CBL holds meeting with new FX Bureaux to organise their imminent operation – confirmed actual activation and testing of their systems would begin this month

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

Nearly 11,000 migrants repatriated from Libya and 3,165 Mediterranean fatalities: IOM
Libya

IOM reports 928,839 migrants identified across Libya in 2025

January 14, 2026
Libya’s western-based army opens enrolment
Libya

Chief of Staff of Libyan Army Al-Namroush discusses supporting pilot training, improving the Air College and developing Naval forces

January 14, 2026
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Government price control campaign has led to over 30 percent price decreases: Deputy Economy Minister Abu Shiha

January 11, 2026
Attorney General orders arrests at Jumhouria bank branch for embezzlement
Libya

Head of LISCO’s Materials Department detained in US$ 26 million contract fraud with Austrian company VA Intertrading

January 11, 2026
Aldabaiba announces four-track plan for holding elections and approving the constitution, leading to parliamentary elections next June
Libya

Tripoli PM Aldabaiba is well after undergoing ‘‘minor medical procedure’’ in Misrata state Heart Hospital

January 11, 2026
Tripoli launches air ambulance service for general public – with online booking
Libya

Libyan Air Ambulance starts its helicopter service

January 7, 2026
Next Post

IS in deadly desert ploy; six reported killed

Tripoli CBL holds meetings in Rome

Tripoli CBL holds meetings in Rome

libyaherald-Ads

Top Stories

  • Attorney General orders arrests at Jumhouria bank branch for embezzlement

    Head of LISCO’s Materials Department detained in US$ 26 million contract fraud with Austrian company VA Intertrading

    0 shares
    Share 0 Tweet 0
  • Dollar breaks LD 9 mark on black-market for first time since December 2017

    0 shares
    Share 0 Tweet 0
  • Government follows up with implementing companies and Hill International on Zumurrud Mall project

    0 shares
    Share 0 Tweet 0
  • Tripoli PM Aldabaiba is well after undergoing ‘‘minor medical procedure’’ in Misrata state Heart Hospital

    0 shares
    Share 0 Tweet 0
  • High-level national workshop held to review Libya’s draft Renewable Energy Law

    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

IOM reports 928,839 migrants identified across Libya in 2025

National Development Agency receives high-level delegation from Oman Investment Authority to discuss strategic partnerships

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.