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The Tripoli-based central bank of Libya announced Sunday that it would cease all operations until a senior bank official, who was kidnapped earlier in the day, is safely released. This central bank, recognized internationally as the official depository for Libya’s oil revenues—a critical source of income for the country—has been at the heart of a nation divided between rival governments in Tripoli and Benghazi for years.
The kidnapped official, Musaab Muslam, who heads the bank’s information technology department, was abducted by an unknown group. In response, the bank issued a statement condemning the lawless tactics employed by those responsible for the abduction. “The bank rejects these mob-like practices conducted by certain parties outside the bounds of the law,” the statement declared.
The bank also revealed that other officials had received threats, prompting the decision to halt operations until these coercive actions cease and the appropriate authorities step in to ensure safety.
Last week, U.S. Ambassador to Libya Richard Norland warned that any attempts to forcibly replace the bank’s senior management could jeopardize Libya’s access to international financial markets. This warning came after Norland met with the bank’s governor, Sadiq Kabir, to address growing concerns about armed groups assembling near the bank’s headquarters in Tripoli. The U.S. embassy emphasized that disputes over Libya’s wealth distribution should be resolved through transparent, inclusive negotiations aimed at establishing a unified, consensus-based national budget.
Libya has been mired in conflict since the 2011 NATO-supported uprising that ousted longtime leader Muammar Gaddafi. The country has remained divided since 2014, with eastern and western factions locked in a power struggle. On August 9, violence flared once again, as clashes between two armed groups in Tajoura, a suburb east of Tripoli, left at least nine dead and 16 wounded.
Currently, Libya’s Government of National Unity, led by interim Prime Minister Abdulhamid al-Dbeibah, was established through a United Nations-backed process in 2021 and is based in Tripoli. Meanwhile, eastern Libya, where the national parliament resides, remains under the control of military commander Khalifa Haftar.
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