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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