Last Thursday, June 9, the Ministry of Social Affairs received a number of marriage cheques for files that meet the requirements for people with disabilities and children of social institutions.
This handover came after the agreement between the Ministry of Social Affairs and the Ministry of Youth, to allocate a number of marriage grants for the benefit of these groups, and based on this agreement, a committee was formed to determine the beneficiaries of this grant.
The activities of the “Libyan Banking Conference on Compliance” concluded today, Friday, June 10, 2022, which was sponsored and organized by the Central Bank of Libya, in cooperation with ABC Bank (Arab Banking Corporation-London) and British Arab Commercial Bank (BACB).
This was attended by the heads of boards of directors and general managers of commercial banks in Libya, as this work came within the framework of the Central Bank of Libya’s program to develop the banking sector in the field of governance, compliance, and combating money laundering and terrorist financing.
The head of the committee to study and discuss the outcomes of the Sirte meeting, formed by a decision of the Speaker of the House of Representatives, the Representative, Zayed Hadiya, said that “through the committee’s meetings, I noticed that the Governor of the Central Bank of Libya, Seddiq Al-Kabeer, was taking his decisions alone and not calling for the meeting of the Board of Directors of the Central Bank, which would result in several problems with monetary policy.”
Zayed Hadiya added that “there are some ideas from countries and the United Nations that there is a committee that will be established to divide the revenues that will be formed under the auspices of the United Nations. This matter is rejected because there are the Central Bank of Libya, the Board of Directors and a budget that will be approved by the elected House of Representatives. Oil is the only revenue for Libyans.”
Hadiya stressed that “ideas such as the idea of “oil for food” or similar ideas cannot succeed in Libya, explaining that the House of Representatives cannot allow this, as it is the legislator and regulator for such matters. There are laws that regulate the Central Bank of Libya, such as the law No.1 for the year 2005, which regulates the financial affairs of the Central Bank of Libya and the relationship between it, the government and the Ministry of Finance.”
The head of the committee indicated that “the correct procedure now is that the board of directors has to meet with the Central Bank of Libya, unite and decide decisions from within meetings, not taken only by the governor that would hinder the work of the state or might be used for a specific political orientation, and this is what the House of Representatives will work on in the coming days.”
The Assistant General Manager of Wahda Bank, Anas Ashnebesh, said that “this banking conference is a very important event, especially since cooperation in this field is a responsibility of all sectors within the country, to complete the right cycle of the wheel of work since the conference included the Libyan banking sector with international participation represented by the Arab Banking Corporation – London as well as the British Arab Commercial Bank.”
He added: “Many important topics regarding compliance, regulatory compliance and facing money-laundering were addressed with a group of national and international banking experts, who were at a high level in addressing the main themes, enriching the discussion and exchanging opinions and ideas among the distinguished attendance, which included the boards of directors and general managers of the Libyan banking sector.”
In the same context, Ashnebesh confirmed that “the Libyan banking sector has given priority and importance to these concepts. On the other hand, he pointed out that the senior management of Wahda Bank is making every effort to enhance the employee’s ability to understand the concept of compliance and supervisory commitment, and that compliance does not mean refusing to conduct transactions or complicating procedures, but quite the opposite.
The application of the basic rules and international norms of the concept of regulatory compliance is to ensure the flow of services correctly without confusion or the bank falling into any prohibited, especially since Wahda Bank has a network of correspondents that operate within a global banking system in accordance with international standards, and at the end of his speech he emphasized that this conference is a serious start and a real initiative led by the Central Bank of Libya towards developing the banking sector, in accordance with international regulations and systems of which the Libyan state is a part.”
The Minister of Foreign Affairs and International Cooperation, Mrs. Najla Al-Mangoush, receives a phone call from the United Nations Under-Secretary-General for Political Affairs, Mrs. Rosemary A. DiCarlo, during which they discussed the latest developments in the political situation in Libya.
Mrs. DiCarlo expressed her concern over the recent violence that occurred in the capital Tripoli. The call also dealt with supporting the efforts of the Adviser to the Secretary-General of the United Nations, Ms. Stephanie Williams, to reach a constitutional basis, to hold elections as soon as possible and to achieve the demand of all Libyans, which is the parliamentary and presidential elections.
Adapted from Dr. Najla Al-Mangoush Official Twitter
The Chairman of the Board of Directors of the National Oil Corporation, Mustafa Sanalla, held a meeting with the Director-General of Schlumberger Company, Libya Branch, Mustafa Ajaj, and in the presence of the member of the Board of Directors of the Corporation, Abu Al-Qasim Shanqir.
The meeting discussed the development of means of joint cooperation, the various activities and operations of Schlumberger in various oil locations, as well as the sustainable development programs that the company is implementing in several regions in Libya, in cooperation with the National Oil Corporation through its Sustainable Development Department.
Today, Thursday, the President of the Presidential Council, Mohamed Al-Manfi, met with the Minister of Oil and Gas in the Government of National Unity, Mohamed Aoun, to follow up on the work of the ministry, and to review some of the problems facing the sector.
The Minister of Oil and Gas presented a number of files related to the functioning of the oil institutions and companies, as well as an explanation of the progress of oil and gas production in oil fields and ports, explaining some of the challenges facing the development of the sector in various parts of the country.
For his part, Al-Manfi stressed during the meeting the importance of solving the problems that hinder the work of the sector, because oil is of great importance to the Libyans, as it is the main resource for the national economy, stressing the need to coordinate efforts between the ministry and the National Oil Corporation, and oil companies to ensure the advancement of this important sector.
The Ministry of Finance of the Government of National Unity announced the signing of a cooperation protocol with E-finance Investment Group of the Egyptian Ministry of Finance regarding the development of the financial system, digital transformation, and the establishment of the unified treasury system, the electronic payment and collection center.
This came during a visit by the Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk to the headquarters of the Egyptian Ministry of Finance to learn about the Egyptian experience in the field of development and digital transformation of the government financial system and the ministry’s agencies such as the Tax Authority and the Customs Authority, as well as a visit to one of the most important arms of the Egyptian Ministry of Finance, the company of “E-Finance”.
The Ministry of Finance indicated that it seeks to benefit from financial grants and technical assistance provided by regional financial institutions such as the “African Development Bank and the Islamic Development Bank” to the financial institutions of the countries contributing to them, developing and digitizing the management system for information and government financial data and to work with the unified treasury system and electronic payment and collection.
The Central Bank of Libya, Benghazi, indicated today, Thursday, that the extraordinary annual report is a historical document for the period from 2015 to 2020, which is the period during which the peak of the division of the Central Bank in its two poles, as the last similar report was issued in 2014.
The Benghazi central bank said that the source of the data published in this report is the periodic data issued by the Central Bank of Libya in Tripoli, in addition to data related to the eastern region that was not included in the Tripoli central bank data for the mentioned period.
He added that “the aim of this report is to give an integrated picture of the sector in light of the political and economic changes and the effects of the division that the period witnessed. However, it would have been better for the report to be read and to respond to any comments in order to revise and amend it, pointing out that insisting on the centralization of the decision, location and data is futile. We are fundamentally against it, and therefore even in the process of reunification of the Central Bank, we have to sit together as equal counterparts and not as a center and a branch or a department and a division. Therefore we are looking for the best in the performance of our tasks away from the central directives.”
The Central Bank expressed its readiness to receive any criticism, in particular, pointing out that its main goal is to continue the flow of periodic reports and to be valuable and reflect the reality to benefit from them and to help decision-makers in making their decisions.
The Libyan Prime Minister, Fathi Bashagha, met today, Thursday, the people and dignitaries of the city of Ghat, in order to hear their views on several issues, in addition to presenting the government’s plans to improve the level of services for the city’s residents.
Bashagha stressed the need to develop the health, transportation and communications sectors, which are the basis for the development of cities, in addition to investing in the field of solar energy, which will provide job opportunities for many young people.
The Prime Minister added that the problems that Ghat and the neighboring cities suffer from are not very different from the rest of the cities, but the difficulty of transportation and the lack of convenient means of transportation made these problems more severe, and for this, the government allocated an exaggeration in its budget to develop the transportation sector.
He pointed out that the city of Ghat enjoys very great importance as it is a border area. Investing in security programs represented in capacity building and providing the latest monitoring and insurance technologies are necessities.
