Tripoli based Libyan Prime Minister, Abd Alhamid Aldabaiba, accused ‘‘some parties’’ of re-creating the liquidity shortage crisis at banks, stressing the Central Bank of Libya’s (CBL) responsibility for the lack of cash liquidity ahead of Eid al-Adha.
Aldabaiba was commenting after long queues formed outside several banks in the lead up to the Eid Al-Adha (Feast of Sacrifice) holidays that started for four days from today.
During a quick tour by Libya Herald, the average sacrificial ram was averaging from LD 2,300 to LD 3,200 and above at the former Sug Il Thlat temporary sheep market on Thursday. Several sellers were accepting payment by debit cards, but most were strictly cash. Many Libyans only earn LD 3,500 and much less per month, so the cost of a sacrificial ram is a major part of a month’s salary. Therefore, cash is vital in this holiday season and being able to withdraw your recently deposited salary by the government is crucial.
In his attack on the enemies of the people, dark forces, banks and the CBL, Aldabaiba said: ‘‘There is no reason why cash should dry out from banks. These banks are taking advantage of our situation and our conditions, and these banks are not under the authority of the government. Many blame me and the government saying we cut off cash liquidity. Banks do not come under our authority whatsoever.
Call for deep-rooted reform of banking system
We call for a deep-rooted change in the policy of banks and the CBL. There must be change.
The country still has enemies
For three years cash was available, and we got past it (this problem). Prices were set through (the raising of) salaries and through subsidies, but this country still has enemies that want to take us back. We say to them, before God, Libyans will not be returned (to how things were). Those who want to take us back to the dark days when we were fighting each other (civil war). We say to them, we are not going back (to those days).
It hurts me to see queues of people waiting in the peak of sunshine to withdraw LD 2,000 or LD 3,000 (from their own money from their own bank accounts). This used to be something of the past. And today they want to return it.
I absolve my conscience here in this mosque that we will not keep quiet. I have no authority over the banks to tell them to do this or that. I swear yesterday and the day before we got cash out of companies to make cash available.’’
Aldabaiba was speaking during his visit yesterday to the city of Al-Asaba to inaugurate the city’s Grand Mosque.
