Al-Menfi to New CBL Governor: Focus on Technocratic Role

Libya’s Presidential Council Chairman, Mohammed Al-Menfi, met with the newly appointed Central Bank Governor, Naji Issa, and his deputy, Marai Al-Barasi, on Wednesday.

Al-Menfi emphasised the importance of the Central Bank Governor maintaining a strictly technical role, avoiding political entanglement, and adhering to the State Financial Law (12/1) for spending allocations until a unified budget is approved.

The Chairman also stressed the importance of respecting the legal authority of the existing Central Bank Board of Directors, formed under Presidential Resolution No. 22, until a new board is agreed upon.

He commended Abdel Fattah Abdel Ghaffar, the Governor assigned by the Presidential Council, for his leadership during a challenging period, particularly for implementing court rulings and public demands to eliminate the foreign currency tax.

The meeting, which also included the Minister of Transport, Mohammed Al-Shahoubi, who heads the Central Bank handover committee, preceded the official handover ceremony for the new Governor and his deputy at the bank’s headquarters in Tripoli.