Abdel Fattah Abdel Ghaffar, the acting governor of the Central Bank of Libya appointed by the Presidential Council, confirmed that the issues surrounding the bank will be resolved within the next two days, with everything under his control and management. During a press conference held on Tuesday, Abdel Ghaffar conveyed reassurances to the international community and international institutions, emphasizing that his council operates with standards of transparency and disclosure, aiming to develop and modernize the bank and its operational mechanisms.
He promised that salaries would be disbursed within a day or two, and liquidity would be distributed to banks after reviewing cash balances, criticizing the previous management’s handling of the bank and their failure to smoothly transition responsibilities to the new administration. Abdel Ghaffar called on the dismissed governor, Saddek Elkaber, to hand over the confidential numbers necessary for disbursing salaries to Libyans and protecting assets and investments abroad, asserting that the new Central Bank board is now an established reality.
Abdel Ghaffar stated that the new bank’s board would extend the deadline for withdrawing the 50 Dinar notes from circulation, which was set to expire on August 29 by the previous administration. He pledged that “there will be no unilateral decision-making anymore, as there is now a board of directors and we have governance committees and key functions in the Central Bank, and our monetary policy coordinates with fiscal and economic policies.”
He expressed confidence in the cooperation of the Unity Government in this regard, affirming that these policies would lead the next phase and ensure that no single individual would dominate or impose their opinions on everyone.
