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Court of North Tripoli stopped the Elkaber decision on suspending the management of Libya’s Foreign Bank administration

The Address | Benghazi – Libya

TRIPOLI – The Court of North Tripoli ruled on Sunday to stop the implementation of the decision made by Saddek Omar Elkaber, the Governor of the Tripoli-based Central Bank of Libya, on the suspension of the General Manager of the Libyan Foreign Bank Mohammed bin Yusuf and the LFB board of directors.

Last August, Elkaber issued a decision to dismiss the Board of Directors and the General Manager of the Libyan Foreign Bank. The Board of Directors of the Foreign Bank then announced that it would file a suit with the Administrative Court against the Elkaber decision.

The elected Libyan House of Representatives (HoR) issued a resolution in 2016 to dismiss Saddek Omar Elkaber from the CBL Governor position due to the end of his term. On December 19, 2017, Mohamed al-Shukri was elected by the HoR as a governor of the Central Bank of Libya with 54 votes out of 102 votes.

Civil Society activists from Benghazi, Derna, and Tripoli accused Elkaber of funding extremist Islamist organizations after leaked documents showed that CBL has transferred more than 15m L.D to the Shura Council of the Mujahideen in Benghazi in 2015 and 2016.

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