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House of Representatives Cancels Appointment Decision for Al-Shukri

Written by صدى ليبيا on . Posted in News. No Comments on House of Representatives Cancels Appointment Decision for Al-Shukri

The House of Representatives has issued Decision No. (7) of 2024, which addresses the governance of the Central Bank of Libya. This decision annuls Decision No. (3) of 2018 regarding the appointment of the Governor and establishes the current governance framework for the Central Bank. The decision follows an extensive review of relevant legal and regulatory documents, including:

  • The Constitutional Declaration of August 3, 2011, and its amendments
  • Law No. (10) of 2014 concerning the election of the House of Representatives
  • Law No. (4) of 2014 regarding the internal regulations of the House of Representatives
  • Law No. (1) of 2005 on banks and its amendments
  • Decision No. (3) of 2018 issued by the President of the House of Representatives on the appointment of the Governor
  • Decision No. (12) of 2024 related to the continuation of the Governor’s duties
  • The regular meeting of the House of Representatives No. (1) of 2024, held on Tuesday, Muharram 15, 1446 A.H., corresponding to August 20, 2024

The decision outlines the following provisions:

Article 1:
Decision No. (3) of 2018, which appointed Mr. Mohammed Abdel Salam Al-Shukri as Governor of the Central Bank of Libya, is hereby revoked.

Article 2:
The Board of Directors of the Central Bank of Libya will continue under the chairmanship of the current Governor, Mr. Saddek Elkaber, until a new appointment is made.

Article 3:
The members of the Board of Directors are to assume their roles within a few days from the date of this decision’s issuance. This decision will be published in the official gazette.

Article 4:
This decision takes effect immediately upon issuance and will be published in the official gazette.

The House of Representatives has issued this decision to maintain governance and stability within the Central Bank of Libya.

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

Written by صدى ليبيا on . Posted in News. No Comments on 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.

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