Libya’s central bank has suspended all its operations following the kidnapping of its Information Technology Director, Musab Msallem, from his home in Tripoli. The bank, which is the only internationally recognized depository for Libya’s oil revenues, announced the decision on Sunday, stating that operations would not resume until Mr. Msallem is released.
The abduction has heightened concerns about the ongoing security crisis in Libya, where the central bank recently faced a siege by armed men. Local media reports indicate that the armed men attempted to force the resignation of the bank’s governor, Seddik al-Kabir, who has been in office since 2012 and has faced criticism over the management of oil resources and the state budget.
Libya has been plagued by chronic insecurity since the ousting and killing of Muammar Gaddafi in 2011. The country remains divided between two rival governments, one based in Tripoli and recognized by the UN, and another in the east backed by warlord Gen Khalifa Haftar. The central bank’s suspension of operations underscores the fragile state of Libya’s economic and political landscape.
There is growing concern over the potential impact on Libya’s oil revenue management, which is crucial for the country’s economy. The international community is closely monitoring the situation, with calls for the safe release of Mr. Msallem and the restoration of central bank operations.