Central Bank of Libya holds first unified board meeting since 2014
The Central Bank of Libya, CBL, held Monday for the first time a full board meeting since 2014 after which the bank was split into two.
The bank, Libya Observer reports, held a full-quorum meeting for the first time in six years to discuss fixing exchange rates of the Libyan dinar to foreign currencies.
The preliminary meeting the bank also said aimed to activate the role of the board as per the law and discussed stability of prices and support to the banking system.
The CBL has been split; Central Bank branches in Tripoli and Al-Bayda. The branches are aligned with rival governments; Government of National Accord, GNA, headquartered in the Libyan capital and Bayda-based administration.
The split occurred in 2014 after fresh rivalries emerged among factions that ruled the country from 2011 – year NATO backed the removal of ten leader Muammar Gaddafi.
The two sides have agreed to re-establish joint state institutions in line with pledges made last month to put in place a provisional central government to prepare elections in December next year.