Libya's Central Bank Stops Work After Employee Kidnapped
- The powerful central bank governor of Libya was abruptly fired by the presidential council.
- The move is likely to worsen tensions in the deeply divided North African country.
- The central bank's operations are suspended following the governor's dismissal.
In a significant political move, Libya's presidential council in Tripoli has unilaterally dismissed Central Bank Governor Sadiq al-Kabir, appointing Mohamed Abdul Salam al-Shukri as his successor. This decision, announced late Sunday, is expected to exacerbate existing tensions in the already divided North African nation. Al-Kabir, who has held the position since 2011, faced increasing criticism over his management of Libya's oil revenues, leading to calls for his removal from various political factions. Libya remains split between a U.N.-recognized government in Tripoli, led by Prime Minister Abdul Hamid Dbeibah, and rival authorities in the east, supported by military commander Khalifa Haftar. The eastern parliament and the Supreme Council of State have condemned al-Kabir's dismissal as illegitimate, asserting that such appointments should involve broader consensus, as outlined in interim regulations from U.N.-backed negotiations aimed at unifying the country. Compounding the political turmoil, the Central Bank of Libya announced a suspension of operations following the abduction of Musab Msallem, its head of information technology. The bank stated it would not resume activities until Msallem was released, highlighting the ongoing threats to its employees and the stability of the banking sector. This incident follows a recent siege of the bank's headquarters, which was reportedly an attempt to force al-Kabir's resignation. Despite the turmoil, the Central Bank has resumed operations after Msallem's release. The situation underscores the fragile security environment in Libya, which has struggled with instability since the 2011 uprising that ousted longtime dictator Muammar Gaddafi.