Libya’s central bank has announced the suspension of all its operations after a senior employee was kidnapped in the capital Tripoli. The bank denounced the abduction of its information technology director Musab Msallem in a statement on Sunday. They said Mr Msallem was taken from his home by an “unidentified party” on Sunday morning and that other employees have been threatened with kidnapping. The central bank says operations will not resume until Mr Msallem is released.
The central bank, which is independent but owned by the Libyan state, is the only internationally recognised depository for Libyan oil revenues – a vital economic income for a country torn for years between two rival governments in Tripoli and Benghazi. It comes a week after the central bank suffered a siege by armed men, according to AFP news agency. According to local media, cited by AFP, the armed men did so to force the resignation of the bank’s governor Seddik al-Kabir. In office since 2012, Mr Kabir has faced criticism over the management of oil resources and the state budget.
Since the ousting and killing of Libyan leader Muammar Gaddafi in 2011, the country has suffered from chronic insecurity. The country has been divided by power struggles and currently has two governments – a UN-recognised one based in Tripoli, and another in the country’s east backed by warlord Gen Khalifa Haftar.
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This gripping tale of intrigue and turmoil within Libya’s central bank showcases the complexities of a nation torn apart by political and economic strife. The kidnapping of senior employee Musab Msallem has thrown the bank into disarray, leading to the suspension of all operations until his safe return.
With armed men besieging the bank and calling for the resignation of its governor, Seddik al-Kabir, the situation is tense and uncertain. The management of oil resources and the state budget have been subjects of controversy, adding fuel to the fire of discontent within the bank.
As Libya struggles with power struggles and division, the fate of the central bank hangs in the balance. Will Mr Msallem be freed, allowing operations to resume? Or will the turmoil continue, further destabilizing an already fragile economic situation?
Only time will tell how this gripping saga unfolds within the walls of the central bank, but one thing is certain – the future of Libya’s financial stability hangs in the balance.
