Libya's parliament appoints Belqasem as central bank governor

In Libya, the eastern parliament has appointed Naji Mohamed Issa Belqasem as the new central bank governor following the dismissal of Sadiq al-Kabir by the presidential council in Tripoli. This decision was made on a Monday, with all 108 lawmakers voting in favor of Belqasem, who previously held the position of director of banking and monetary control at the central bank. Alongside him, Mari Muftah Rahil Barrasi was appointed as his deputy, and they are expected to establish a new board of directors within ten days. The appointment is part of a U.N.-facilitated agreement aimed at resolving leadership disputes within Libya's financial institutions. The presidential council had previously appointed Mohamed Abdul Salam al-Shukri as a replacement for al-Kabir, a move that was contested by the eastern parliament and the Supreme Council of State, which argued that such decisions should be made collaboratively. Al-Kabir had been in office since October 2011, during a tumultuous period following the overthrow of Moammar Gadhafi. His tenure was marked by criticism from various political factions regarding the management of Libya's oil revenues, a critical issue in the country’s ongoing political strife. The recent developments highlight the ongoing power struggle between the eastern parliament and the Tripoli-based government led by Prime Minister Abdul Hamid Dbeibah. This appointment reflects the complexities of Libya's political landscape, where competing authorities vie for control over key institutions, and underscores the challenges in achieving a unified governance structure in the country.