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Al-Menfi Welcomes Central Bank Governor and Deputy at the Presidential Council Headquarters

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Today, Wednesday, the Head of the Presidential Council, Mohamed Al-Menfi, welcomed the newly appointed Governor of the Central Bank of Libya, Naji Issa, and his Deputy, Marei Al-Barassi, at the Council’s headquarters.

The meeting was attended by the Governor appointed by the Council, Abdelfattah Abdelghafar, Council advisor Ziad Dagheim, the Minister of Transportation from the Government of National Unity, and the Chairman of the Special Handover Committee for the Central Bank, Mohamed Al-Shahoubi.

Ben Gdara Discusses Fuel Supply Mechanisms for Local Market with Brega Petroleum Marketing Company

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The Chairman of the National Oil Corporation, Farhat Ben Gdara, held a meeting with the Chairman of Brega Petroleum Marketing Company, Fouad Belrahim, to discuss the mechanisms for providing the local market’s fuel needs, the timelines for supplies, and the challenges facing the company.

The meeting also addressed ongoing projects aimed at increasing fuel storage capacity and issues related to ports and unloading docks.

Central Bank Governor and Deputy Take Oath of Office Before the House of Representatives

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The newly appointed Governor of the Central Bank of Libya, Naji Issa, designated by the House of Representatives and the State Council, took the legal oath before the House of Representatives, pledging to uphold the independence and safety of the nation, respect the constitutional and legal declaration, consider the interests of the people, and strive to achieve the principles and goals of the February 17 Revolution.

Similarly, the Deputy Governor of the Central Bank, Marei Al-Barassi, took the legal oath before the House, committing to respect the constitutional declaration, maintain the nation’s independence and safety, and consider the interests of the people while pursuing the principles and goals of the February 17 Revolution.

Al-Lafi Welcomes Step Taken by the House of Representatives and State Council to Approve Appointment of Governor and Deputy

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Council member Abdullah Al-Lafi expressed his support in a post for the approval of the appointment of the Governor and Deputy, commending the step taken by the House of Representatives and the State Council. He noted that this move reflects a sincere desire to unify state institutions in order to achieve the economic stability the country seeks. Al-Lafi looks forward to their success in fulfilling their duties and assured them of support in facing any challenges that may arise.

He emphasized the need to complete the remaining agreed-upon items, particularly regarding the expedited reopening of oil fields.

Aguila Saleh Stresses Need for Central Bank to Maintain Reserves and Financial Sustainability During Meeting with Governor and Deputy

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The Speaker of the House of Representatives, Aguila Saleh, held a meeting today with the Governor of the Central Bank of Libya, Naji Issa, and the Deputy Governor, Marei Al-Barassi, following their oath of office before the House of Representatives.

The discussion focused on developing banking services and electronic payment systems, as well as laws related to the banking sector.

For his part, Aguila Saleh stressed the need for the Central Bank to continue preserving reserves and ensuring the financial sustainability of the state, highlighting the importance of continuous communication with the leadership of the House of Representatives.

National Oil Corporation Board Discusses Increasing Oil Production Ratios in Its Tenth Meeting of 2024

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The Board of Directors of the National Oil Corporation held its tenth regular meeting for the year 2024 today, chaired by the Chairman, Farhat Ben Gdara.

The meeting focused on discussing a range of topics related to the sector, primarily the progress of subsidiary companies and overcoming the challenges they face in implementing the Corporation’s strategy to increase production rates and modernize the sector’s infrastructure.

Dbeibeh: “We Congratulate the Efforts and Positive Steps That Have Corrected the Situation at the Libyan Central Bank”

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The Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, congratulated the collective efforts and positive steps that have corrected the situation at the Libyan Central Bank and aimed to establish a professional and independent institution for all Libyans.

Dbeibeh also extended his congratulations to the Libyan people on the measures taken to strengthen the Libyan dinar and alleviate the suffering they have faced due to arbitrary decisions, reaffirming their commitment, in coordination with relevant institutions, to take all necessary actions in this regard.

Parliament Votes to Appoint Central Bank Governor, and Ghafar Cancels the Exchange Rate Tax

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The Central Bank’s board of directors, appointed by the Presidential Council and headed by Abdel Fattah Ghafar, issued a decision on Monday to cancel the tax increase on the official exchange rate.

Earlier this year, the House of Representatives had issued a decision to lift the tax on the exchange rate, which raised the dollar price at the Central Bank to 6.20 Libyan dinars. Meanwhile, the parallel market saw a significant rise in the dollar’s value against the dinar, exceeding 8 dinars.

Following the announcement of the decision to cancel the tax, the exchange rate in the parallel market witnessed a sharp drop, recording 6.50 dinars in the black market.

Nova: “Oil Production to Gradually Resume Starting Tomorrow”

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Nova agency revealed that oil production will gradually resume starting tomorrow, after a one-month halt, thanks to the resolution of the dispute over the appointment of a new Central Bank governor, which is a key step toward overcoming the crisis that has affected the national energy sector.

Nova explained that the new Central Bank leadership will face complex challenges, including forming a new board of directors and restoring confidence in financial institutions. Envoy “Stephanie Khouri” emphasized the importance of protecting Libya’s oil resources from political tensions. During the agreement-signing ceremony, Khouri received assurances from Benghazi authorities about reopening oil fields and ports, though she also warned that internal divisions and foreign interventions remain significant threats.

The agency confirmed that full oil pumping operations are scheduled to resume on October 2.

U.S. Embassy in Libya Welcomes Appointment of New Central Bank Governor and Deputy

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The U.S. Embassy in Libya welcomed the appointment of a new Governor and Deputy for the Central Bank of Libya, expressing hope that this agreement between the House of Representatives and the State Council will pave the way for restoring trust and enhancing governance within the institution by appointing a highly qualified technocratic Board of Directors.

In its statement, the U.S. Embassy urged Libyan parties to seize this opportunity, maintain this momentum, and reach a consensus on a transparent and accountable mechanism for managing Libya’s revenues for the benefit of the Libyan people across all regions.