Libya’s Central Bank Resumes Operations After Kidnapped Official Freed

Confidence UbaniAugust 19, 20241 Mins read344

Libya’s apex bank, the Central Bank of Libya (CBL), has resumed operations following the release of Musaab Muslamm, the head of its information technology department. Muslamm was kidnapped from his home in Tripoli on Sunday by an unidentified group.

The abduction led the CBL to halt all operations, with the bank refusing to reopen until Muslamm was safely returned. On Monday, the CBL confirmed that Muslamm had been freed and was back at work, prompting the bank to resume normal operations.

The BBC reported that the kidnapping of Muslamm occurred just a week after armed men besieged the CBL headquarters in Tripoli. This was reportedly in an attempt to force the resignation of the bank’s governor, Seddik al-Kabir. Kabir, who has been in office since 2012, has faced criticism over his management of Libya’s oil resources and state budget.

The bank plays a crucial role in managing Libya’s oil revenues – an important source of income for the nation. On Monday, Kabir met with British Ambassador Martin Longden to discuss the growing security concerns facing the bank and its staff. The country remains divided between two rival governments—one recognised by the UN in Tripoli and another in the east backed by warlord General Khalifa Haftar.

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