The United Nations Security Council Panel of Experts on Libya said in its report for this year that the reunification process of the Central Bank of Libya is hampered by a number of issues, including the impact of the devaluation of the Libyan dinar and the failure to approve budgets by the House of Representatives, adding that the Board of Directors of the Central Bank of Libya has not begun work on these files despite the existence of preliminary discussions between the governor and his deputy, Al-Kabeer and Al-Hibri.

The group of experts revealed that the main issues hindering the reunification of the Central Bank of Libya include the need to assess the impact of the devaluation of the Libyan dinar, the repeated rejection of budget proposals by the House of Representatives, problems in the process of issuing letters of credit, the lack of use of international standards in financial reporting, and the need to stipulate Effective internal governance and controls, as well as issues related to who leads the two branches of the Central Bank.

The team quoted the Governor of the Central Bank of Benghazi, Ali Al-Hibri, who holds the position of Deputy Governor on the Board of Directors of the Central Bank, his confirmation of reaching a preliminary agreement with the Central Bank in Tripoli on short-term measures and addressing the issue of liquidity, bank balances and clearing in the eastern region, provided that the Board of Directors of the Central Bank would amend the membership of the management of the Libyan Foreign Bank and restructure the Central Bank. The report indicated that the board of directors of the Central Bank of Libya did not start working on these files, despite the existence of preliminary discussions between the governor and his deputy, Al-Kabeer and Al-Hibri. Deloitte International Company also held a workshop last February for the purpose of implementing the terms of reference related to the reunification of the Central Bank and its reform, including a three-month period to prepare for reunification (January, February and March), then implement the reunification during another three months (from February to June) and then enter the evaluation phase during the month of July to reach the reform goals by the end of the year.

The team of experts indicated that seven work streams support the process of unifying the Central Bank of Libya, including a vision and operation model, the public debt path, the currency and circulation path, the clearing path, the hard currency distribution path, the government budget and financing path, and the review of financial accounts during the years 2020 and 2021, adding that no progress had been made in arranging for the Board of Directors to start work, with some progress being made in the seven tracks.