Central Bank of Libya’s El-Kaber and Hibri meet – launch bank’s unification process

By Sami Zaptia.

The CBL Governor El-Kaber (left) and his Deputy Hibri (right) met today to launch the bank’s reunification process (Photo: CBL).

Tripoli, 6 December 2021:

The Central Bank of Libya (CBL) announced today that its Governor, Seddek El-Kaber, and Deputy Governor, Ali Hibri (and former Governor of the former splintered eastern CBL), had met today.

The usually understated CBL referred to the meeting as ‘‘the most important step to unify the Central Bank of Libya’’. It said the meeting was to agree on a detailed plan to launch the process of unifying the Central Bank.

The CBL reported that the stages of consolidation were discussed according to the roadmap proposed by Deloitte in its financial review process of the CBL last July, where the work tracks and technical teams involved in the implementation of the consolidation process were agreed upon.

The CBL reported that the meeting, in which Deloitte participated, after being invited to provide technical advice and support, concluded with the agreement of the Governor and the Deputy Governor to actually launch the unification process, stressing their commitment to continuing progress to achieve the desired goals of unifying the CBL.

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