CBL Governors meet in Tunis to agree international audit process

By Sami Zaptia.

At a Tunis meeting yesterday brokered by UNSMIL, bth the contending CBL Governors agreed on the terms of reference for an independent international audit of their respective banks (Photo: LH archives).

At a Tunis meeting yesterday brokered by UNSMIL, both the contending CBL Governors Sadek El-Kaber and Ali Hibri agreed on the terms of reference for an independent international audit of their respective banks (Photo: LH archives).

London, 8 November 2018:

The Governors of the Tripoli and Beida-based Central Banks of Libya (CBL) held a meeting in Tunis yesterday.

The meeting was on the independent audit process for both branches of the CBL. It is believed that an independent audit is a prerequisite for the reunification of the CBL.

The meeting, held at UNSMIL’s Tunis HQ, was held at the invitation of and brokered by UNSMIL head Ghassan Salame. His Deputy Stephanie Williams also attended.

Interestingly, in its tweet about the meeting, UNSMIL referred to both Saddek El-Kaber and Ali Hibri as “governors”.

On the outcomes of the meeting, UNSMIL was succinct, saying that “Wide consensus was reached on reviewing  the audit’s terms of reference and the need for swiftly implementing it”.

Banking sources have reported that the Tunis meeting was lengthy and that the audit will be carried out by an international audit firm. Interested firms will have to go through a tender process to gain the business.

Both central banks will also appoint a representatives to begin the process

You must be logged in to post a comment Login