Bandung, IndonesiaSentinel.com — The Central Bank of Libya, headquartered in Tripoli, has announced the suspension of all its operations until a senior bank official, who was kidnapped earlier, is released. The bank revealed that the abduction of Musaab Muslam, head of the IT department, was carried out by unknown parties.
In a statement issued on Sunday (August 18, 2024), the bank condemned the actions, stating, “The bank rejects such mob-like methods practiced by certain lawless entities,” as reported Reuters.
The statement further mentioned that other bank officials have also faced threats, leading to the decision to halt operations until “these practices cease and the relevant authorities intervene.”
The Central Bank of Libya is the only internationally recognized institution for handling Libya’s oil revenues, a critical source of income for the country, which has been divided for years between two rival governments in Tripoli and Benghazi.
The kidnapping incident coincides with attempts to forcibly replace the bank’s senior management. Richard Norland, the U.S. Ambassador to Libya, warned last week that such actions could result in the North African country losing access to international financial markets.
Norland met with the bank’s governor, Sadiq Kabir, to discuss concerns about armed groups gathering around the bank’s headquarters in Tripoli.
“Disputes over the distribution of Libya’s wealth should be resolved through transparent and inclusive negotiations toward a consensus-based unified budget,” Norland emphasized.
Since the NATO-backed uprising in 2011 that ousted longtime dictator Muammar Gaddafi, Libya has experienced only brief periods of peace. In 2014, the country split into warring eastern and western factions.
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On August 9, at least nine people were killed and 16 others injured during clashes between two armed factions in Tajoura, a suburb of eastern Tripoli.
The Government of National Unity (GNU) in Tripoli, led by interim Prime Minister Abdulhamid al-Dbeibah, was installed through a UN-backed process in 2021.
Eastern Libya, home to the national parliament, is effectively controlled by military commander Khalifa Haftar.
Despite a 2020 ceasefire and ongoing efforts to reunify national institutions, a political solution remains elusive.
