{"id":251903,"date":"2024-08-20T17:15:36","date_gmt":"2024-08-20T15:15:36","guid":{"rendered":"https:\/\/sada.ly\/en\/?p=251903"},"modified":"2024-08-21T17:23:31","modified_gmt":"2024-08-21T15:23:31","slug":"middle-east-monitor-mediations-to-contain-the-central-bank-of-libya-crisis","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/middle-east-monitor-mediations-to-contain-the-central-bank-of-libya-crisis\/","title":{"rendered":"Middle East Monitor: Mediations to Contain the Central Bank of Libya Crisis"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The &#8220;Middle East Monitor&#8221; website reported, citing informed sources, that there are mediations to contain and resolve the crisis at the Central Bank of Libya following the Presidential Council&#8217;s decision to form a new board and proceed with the dismissal of current Governor Seddiq Al-Kabeer and his deputy, Marai Al-Barassi, with the appointment of Muhammad Al-Shukri.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The site added that in September 2014, the House of Representatives voted by majority to dismiss Seddiq Al-Kabeer from his position as Central Bank Governor. In January 2018, the House of Representatives issued a decision to appoint Muhammad Al-Shukri as Central Bank Governor. However, on Friday, the House Presidency reversed its decision, suspending Al-Shukri&#8217;s appointment due to the expiration of his mandate and his failure to assume his duties, reinstating Sadiq Al-Kabeer as Governor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The site also mentioned that Parliament Speaker Aguila Saleh warned on Monday that the Presidential Council\u2019s move to interfere with the Central Bank or appoint a new governor could lead to the freezing of Libyan assets abroad and the collapse of the local currency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is not within the Presidential Council&#8217;s powers to form the Central Bank\u2019s board, but according to observers, it is attempting to exploit a loophole by relying on the House of Representatives&#8217; 2018 decision to appoint Al-Shukri.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the site, Prime Minister Abdul Hamid Dbeibeh of the Government of National Unity pressured for Al-Kabeer\u2019s dismissal, but international forces, led by the United States, warned against this move in a show of support for the current governor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After nine years of division, the Central Bank announced on August 20, 2023, its return as a unified sovereign institution, emphasizing its commitment to addressing the effects of its division.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The site continued, stating that the existence of two governments in the east and west has deepened the political crisis, with Libyans hoping for a resolution through long-awaited presidential and parliamentary elections, which have been delayed due to disagreements over electoral laws and the executive authority that will oversee them.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The &#8220;Middle East Monitor&#8221; website reported, citing informed sources, that there are mediations to contain and resolve the crisis at the Central Bank of Libya following the Presidential Council&#8217;s decision to form a new board and proceed with the dismissal of current Governor Seddiq Al-Kabeer and his deputy, Marai Al-Barassi, with the appointment of Muhammad [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":251904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"_asgm_disable_schema":false,"_asgm_disable_faq":false,"_asgm_disable_howto":false,"_asgm_disable_llms":false,"_asgm_llms_description":"","footnotes":""},"categories":[2],"tags":[625,624,613],"class_list":["post-251903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-central-bank-governor","tag-central-bank-of-libya","tag-libya"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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