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The Central Bank announces the resumption of its operations in full, and confirms that its existence as an institution is for the purpose of serving the State of Libya as a whole and all its citizens without bias.

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Tripoli, September 2, 2024 (LANA) - The Central Bank of Libya announced the full resumption of all its banking operations after repairing the disrupted systems, confirming its return to its "normal state".

The bank said in a statement published on its official page on Sunday evening that its announcement comes "within the framework of its efforts to ensure the continuity of service to Libyan citizens, following the appointment of an interim governor by the Presidential Council to ensure the stability of the institution."

The bank affirmed its commitment to "political neutrality", stressing that it works to serve "all citizens without discrimination or bias, noting the restoration of all aspects of banking operations thanks to the efforts of the executive management and the new board of directors, which assumes its duties for the first time in ten years.

The statement added that the bank "is committed to the highest standards of transparency and integrity, in addition to strengthening the risk management framework and compliance with the recommendations of the Financial Action Task Force and Basel standards, to combat money laundering, financing of terrorism and corruption."

The bank affirmed its full commitment to fulfilling all previous, current and future obligations, in accordance with accepted and recognized banking laws, standards and practices.

The statement indicated that after the departure of the previous administration from the country and the disruption of banking systems, which left millions of Libyans unable to access their bank accounts, pensions, food and medical imports, and coinciding with the inability to manage Libyan assets and reserves, "the Presidential Council issued a decree appointing an interim governor to ensure continuity of service."

The bank pledged to "strictly adhere to sound governance, Transparency, professional integrity, and maintaining the highest standards of financial crime management, including combating money laundering, terrorist financing, bribery, corruption and fraud, in accordance with the recommendations of the Financial Action Task Force, Basel standards and generally accepted practices,” according to the statement.

The Central Bank of Libya also pledged to continue strengthening the risk management framework to ensure appropriate risk mitigation and stressed the importance of “continuous communication with all local and international parties, enhancing multilateral cooperation, within the framework of its role as part of the international community and its quest to contribute positively to the global financial system.”

... (LANA) ....