Former board members of Assaray Bank for Trade and Investment (ATIB), who were unjustly dismissed by a decision of the former Governor of the Central Bank of Libya, Sadiq Al-Kabir, expressed their deep appreciation and gratitude to the Libyan judiciary and the respected courts for their integrity, independence, and courage in upholding justice. The statement included:
After more than three years of litigation in complex and intertwined legal cases involving board members on one side and the former Governor of the Central Bank on the other—alongside disputes with some partners in Assaray Bank—the court rulings have once again confirmed that justice may be delayed, but it is not lost.
These cases faced significant challenges, most notably what the members described as clear bias by the former Central Bank Governor, Sadiq Al-Kabir, which, they said, amounted to an abuse of power and unjustified interference in the affairs of Assaray Bank by favoring one party over the interests of the bank, its shareholders, and its institutions.
This bias, they stated, led to arbitrary decisions issued in 2023 against board members, including their unjustified suspension from work, causing serious harm to their professional careers and personal reputations, including preventing them from holding positions in the banking sector without legal grounds.
Today, following the ruling of the Court of Appeal, they consider this decision a new victory for justice, a clear affirmation of the rule of law, and an important message that abuse of power cannot go unpunished, and that the Libyan judiciary remains the final safeguard for rights and justice.
Based on this ruling, they affirmed that the next phase will include taking all necessary legal measures to pursue the former governor over allegations of abuse of power, ensuring accountability and reinforcing the principle of no impunity.
They also called on the new management of the Central Bank of Libya to revoke the unjust decisions issued against former board members, fully restore their rights, rehabilitate their professional and legal standing, and correct the injustices caused by the politicization of decisions and personalization of cases.
They stressed that this ruling represents not only justice for the board members but also a victory for judicial independence, good governance, and the future of Libya’s banking sector based on institutional integrity and the rule of law.
They concluded by reaffirming their commitment to strengthening trust, promoting good governance principles, and protecting banking institutions from arbitrary and personal interference, in a way that serves the interests of Assaray Bank and the Libyan economy as a whole.
