The economist and founder of the Libyan capital market, Suleiman al-Shuhumi, said that the integrity of the banking system and the preservation of monetary stability are the most important duties of the Central Bank of Libya and its governor.
“Maintaining monetary stability and the integrity of the banking system is the first and most important duty of the central bank and its governor, not preserving foreign currency reserves,” al-Shuhumi argued in a post on his official Facebook page.
He went on saying: “The reserves will have no benefit if they do not contribute to achieving monetary stability, and there is no effective banking system that serves the dealers and is able to fulfil banking requirements of all kinds.”