The decision of the Libyan Presidential Council to replace the governor of the Central Bank of Libya is unacceptable and invalid, said the Speaker of the Libyan House of Representatives, Aguila Saleh, as reported by Libyan channel The Libya Observer on August 19.
According to Saleh, this decision is invalid for two reasons: firstly, the mandate of the Libyan Presidential Council has expired and secondly, the approval of sovereign positions is carried out by agreement between the House of Representatives and the Supreme Council of State.
According to the head of the Libyan parliament, the decision of the Libyan Presidential Council to replace Al-Kabir could lead to the freezing of Libyan assets and the collapse of the national currency.
It also emerged that Libyan Central Bank chief Sadiq al-Kabir held an extended meeting with several department heads at the bank’s headquarters in Tripoli, just hours after the Presidential Council decided to replace him.
Recall that on August 18, 2024, the Libyan Presidential Council announced that it had decided to remove the head of the Central Bank of Libya, Siddiq al-Kabir, from office. The Presidential Council said that the decision was taken unanimously by all its members as part of the national responsibility to preserve the country’s resources and prevent any harm.
Source: Rossa Primavera
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