The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, said today, Thursday, to Reuters that the Central Bank has remained isolated from the international financial system for weeks, leading to a reduction in oil production.

Al-Kabeer added that foreign banks do not deal with the Central Bank’s Board of Directors, which was appointed by the Presidential Council, but it has nonetheless managed to control internal transaction systems in Libya, including the payment of salaries.

He pointed out that all the global banks we deal with, which are more than 30 major international institutions, have suspended all transactions. However, we are also in contact with other institutions, including the International Monetary Fund and the U.S. Treasury Department, adding that all international operations have been suspended, making it impossible to access funds or deposits outside Libya.

The Central Bank Governor confirmed, saying: “I am in contact with the committee formed by the House of Representatives and the State Council regarding the Central Bank crisis. According to communications with the Parliament and the High Council of State, both insist on enforcing the existing laws and the political agreement, which implicitly means the inevitable return of the governor.”