Central Bank Of Libya Shuts Down Operations as Tensions and Security Concerns Escalate in Tripoli
Libya’s central bank has suspended all its operations following the kidnapping of its information technology director, Musab Msallem, in the capital, Tripoli. The bank condemned the abduction, which occurred early Sunday morning, and stated that operations would not resume until Msallem is released.
The incident has heightened concerns for the safety of other employees, who have also been threatened with kidnapping. This suspension comes just a week after the bank was besieged by armed men, reportedly to pressure the resignation of Governor Seddik al-Kabir, who has faced criticism over his handling of Libya’s vital oil revenues and state budget.
The central bank, a crucial institution for the country, remains the only internationally recognized depository for Libya’s oil revenues—a critical lifeline for a nation divided between two rival governments. Since the fall of Muammar Gaddafi in 2011, Libya has been plagued by ongoing power struggles and insecurity, further complicating the bank’s operations and the nation’s economic stability.
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