Libya’s Central Bank suspends operations following the “kidnapping” of an employee

The Central Bank of Libya (CBL) said on Sunday August 18 that it had suspended all operations in the country, after one of its employees was “kidnapped” by unidentified individuals.

“The Central Bank of Libya condemns the kidnapping of the Director of the Information Technology Department, Musab Musallam, by an unknown person in front of his house on Sunday morning, as well as the threats of kidnapping made against certain civil servants,” the bank said in a statement.

The bank added that it rejected what it described as “mafia methods that threaten the safety of its employees and the continued operation of the banking sector in the country”.

Although the Bank of Libya did not state the context of the kidnapping, it follows a statement by the country’s House of Representatives, which rejected “attempts by a number of people to control the Central Bank of Libya over the past two days”.

The statement added that these attempts had begun with incitement to storm the bank’s headquarters, “followed by the search for justification to remove its governor, Siddiq al-Kabir, by force and threats”.

Last week, Siddiq al-Kabir held a meeting with US Special Envoy to Libya Richard Norland and briefed him on “the latest developments regarding the Central Bank and the increasing threats to its security and the safety of its employees and systems.”

Following the meeting, Norland wrote on the “X” account of the US embassy that Libya may lose access to global financial markets if attempts are made to unseat the leadership of the CBL by coercion.

“The emergence of yet another set of confrontations between armed groups in recent days highlights the ongoing risks posed by the political stalemate in Libya. Threats to the security of the CBL staff and operations are unacceptable. Like Libya’s other sovereign institutions, the CBL’s integrity must be protected,” Norland stated.