Statement of the Libyan Planning, Finance, and General Budget Committee on the Central Bank of Libya

The Committee on Planning, Finance, and the General Budget of the House of Representatives has reviewed the decision of the President of the Council No. (22) of 2024, regarding the reformation of the Board of Directors of the Central Bank of Libya.

Within this framework, the Committee considers this decision null, given its violation of all legal means supporting it, including the Constitutional Declaration, its amendments, and the political agreement, reaching the provisions of Law No. (1) of 2005, its amendments, and especially the clauses concerning the authority of the legislative body. These clauses emphasize that the original authority for appointing the Board of Directors of the Central Bank of Libya is vested in the House of Representatives, without mentioning any delegation of this authority to any other body.

Consequently, what was issued by the Presidential Council is both void and illegitimate. In addition to being an infringement on the powers and competencies of the legislative authority, it undermines the stability and cohesiveness of the country’s institutions.
The Committee on Planning, Finance, and the General Budget of the House of Representatives strongly denounces and condemns this action, considering it legally invalid and devoid of any political legitimacy from the Presidential Council. It is an act that leads to the disintegration of institutions and one of the most important pillars of the state. Therefore, the Committee calls on the Central Bank of Libya to take a clear stance and avoid these unconstitutional actions by adhering to its original legal framework, which was approved by Law No. (6) of 2004.

The Committee also calls on all executive institutions to refrain from complying with such unlawful measures, ensuring the safety of the law and the safety of the institutions. They are warned of the consequences of acting against this, as it constitutes a severe violation.