Libya’s Tripoli-based central bank announced on Sunday that it would cease all operations until the release of a senior bank official who was abducted earlier that day.
The central bank, which is the sole internationally recognized depository for Libya’s vital oil revenues, is a critical economic institution in a nation long divided between rival governments in Tripoli and Benghazi.
The bank revealed that Musaab Muslam, head of its information technology department, was kidnapped by an unidentified group. In a statement, the bank condemned the abduction, denouncing the “mob-like methods practiced by some parties outside of the law.” The central bank also reported that other officials had received threats, prompting the decision to suspend operations until these “practices are stopped and the concerned authorities intervene.”
This incident has raised concerns on the international stage. Richard Norland, the U.S. ambassador to Libya, recently warned that attempts to forcefully replace the bank’s senior management could jeopardize Libya’s access to international financial markets. Norland met with the bank’s governor, Sadiq Kabir, to discuss the situation, noting that armed groups had been observed gathering around the bank’s headquarters in Tripoli.
“Disputes over the distribution of Libya’s wealth must be resolved through transparent, inclusive negotiations toward a unified, consensus-based budget,” Norland emphasized.
Libya has faced ongoing unrest since the 2011 NATO-backed uprising that toppled longtime dictator Muammar Gaddafi. The country has remained split since 2014 between warring eastern and western factions. On August 9, violent clashes in Tajoura, an eastern suburb of Tripoli, resulted in at least nine deaths and 16 injuries, further highlighting the fragility of the current peace.
The Tripoli-based Government of National Unity, led by interim Prime Minister Abdulhamid al-Dbeibah, was established in 2021 through a U.N.-supported process. Meanwhile, eastern Libya remains under the control of military commander Khalifa Haftar, despite a 2020 truce and ongoing efforts to reunify the country’s institutions. However, achieving a lasting political solution remains an elusive goal for Libya.
