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.”