The former member of the Board of Directors of the Central Bank of Libya, Ghaith Mrajaa, confirmed in a statement to our source that there is no board of directors at the Central Bank, questioning who will take the decision to reduce the exchange rate.
Ghaith explained that the decision to reduce the exchange rate is a decision of the board of directors according to Banking Law No. 1 of 2005, and that such a decision requires a meeting of the bank’s board of directors.
Ghaith also said during his statement that there is no board of directors, so how will the decision be taken, unless the decision is made in violation of the law, that is, without a decision from the board of directors, and this is possible, stressing that it is not surprising that this would happen in light of the absence of oversight and accountability over the work of the Central Bank.