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CBL in Al-Bayda rejects removing LFB administration by CBL in Tripoli

The Address | Benghazi – Libya

AL-BAYDA – The Board of Directors of the Central Bank of Libya (CBL) in Al-Bayda rejected the resolution of the Governor of CBL in Tripoli, Sadiq Al-Kabir, to remove the Board of Directors of the Libyan Foreign Bank (LFB) and the Director General of the Bank and refer them to investigation.

The Board of Directors of CBL in Al-Bayda, in a statement, stressed its categorical rejection of Al-Kabir’s resolution and its outputs, pledging to take all legal procedures through the urgent judiciary to stop what it called “arbitrary, irresponsible practices.”

The Board of Directors of CBL in Al-Bayda held all the people mentioned in the resolution legally and morally responsible for accepting its implementation and for any problems or losses resulting from their acceptance of this resolution, threatening to pursue them legally as the person who issued the resolution is not legal.

The Board of Directors of CBL in Al-Bayda noted that Sadiq Al-Kabir is removed from his job as a governor of CBL and has no official status to authorize him to issue a resolution to remove the administaration of LFB or other banks operating in Libya.

The statement added “LFB is the bank that handles opening the funds of export and supply of fuel (National Oil Corporation), and that such resolution will make these supplies in case of confusion because of the moral damage to the reputation of the bank with correspondents, and that would lead to shortage in fuel supplies for domestic consumption.”

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