Libya CBL Governor took oath of office before Tobruk’s parliament

The newly-elected governor of Libya’s Central Bank Mohamed Al-Shoukri took the oath of office on Monday before the Libyan Tobruk-based House of Representatives (HoR).

“The new governor of the Central Bank Mohammed Al-Shoukri was sworn in before the Parliament. Thus, he has full legal powers to assume his duties as the head of the most important financial institution,” PM Ismail Al-Sherif told Xinhua.

Al-Sharif expressed hope for “cooperation with Al-Shoukri to carry out his duties and work quickly to end the financial and economic crisis the country has been experiencing for years.”

In a televised speech after the swearing-in, Al-Shoukri expressed aspiration for close cooperation with international institutions, describing his oath as “the beginning of the unification of the central bank.”

“The Central Bank is a sovereign institution governed by the law. We will seek to provide liquidity, control the exchange rates and provide foreign currency,” Al-Shukri said.

Al-Shoukri also reassured that the country’s cash reserves amount to 71 billion dinars and the country’s foreign assets amount to 120 billion U.S. dollars.