HoR votes unanimously to approve Naji Issa as new CBL Governor

The House of Representatives (HoR) voted yesterday unanimously to appoint Naji Issa as the new Governor of the Central Bank of Libya (CBL) and Marei Al-Barassi as his Deputy. A new Board of Directors of the CBL must be formed within 10 days‎.

The approval of Barasi comes after the HoR and High State Council (HSC) agreed on 26 September on the two new appointees after UN mediation.

The UN-brokered appointment agreement contained details of the process and qualifying standards of these board members.

The CBL Crisis
It will be recalled that the CBL Crisis was precipitated when the Presidency of the House of Representatives (and not the HoR in session) confirmed the previously sacked Saddek El-Kaber as the Governor of the Central Bank of Libya (CBL) on 16 August.

In response, the Presidential Council announced on 18 August that it had taken a unanimous decision to elect a new Governor of the CBL and form a new Board of Directors within ‎the House of Representatives Resolution No. 3/2018. This is the 2018 HoR law which had removed El-Kaber as CBL Governor – but the eastern based HoR was never able to enforce this it in Tripoli.

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 appointment of a new CBL Governor was rejected by both legislative bodies, the HoR and HSC.

The appointment of a new CBL Governor by the Presidency Council, a non-legislative body, had sent the Libyan diner into a nosedive on the black-market. The dinar has now recovered all its losses against major currencies.

Agreement reached on appointment of CBL Governor, Deputy and Board (libyaherald.com)

Applications for opening documentary credits will start today: CBL (libyaherald.com)

Tripoli Libyan government responds to U.S. statement on CBL crisis – sees statement as positive (libyaherald.com)

U.S. calls for steps to maintain the credibility of the CBL (libyaherald.com)

Libya loses US$ 120 million, and counting, because of recent oil closures: NOC (libyaherald.com)

Newly installed CBL administration claims it has gained control of all its banking systems (libyaherald.com)

Presidency Council welcomes yesterday’s UN Security Council statement – will participate in national dialogue within broader framework (libyaherald.com)

UN Security Council calls for a consensus-based solution to the current Central Bank crisis (libyaherald.com)

New interim CBL Governor Abdel Fattah Abdel Ghaffar holds first press conference in CBL (libyaherald.com)

UNSMIL deeply concerned over the deteriorating situation in Libya resulting from unilateral decisions (libyaherald.com)

‘‘Takeover’’ by the Handover Committee of the CBL – new temporary Governor appointed (libyaherald.com)

Several banking operations suspended due to CBL crisis (libyaherald.com)