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Governor of the CBL meets with Head of the Audit Bureau.

Pulbished on:

Tripoli, 17 July 2025 (Lana) Governor of the Central Bank of Libya (CBL), Naji Issa, discussed with the Head of the Audit Bureau, Khaled Shakshak, a number of issues related to overall performance and oversight of the financial and economic sectors.

This came during a meeting held yesterday, attended by a number of officials from both institutions, according to the CBL's Facebook page.

The meeting discussed the measures taken by the CBL within the framework of its mandate to manage monetary policy, its role in maintaining financial and monetary stability, and monitoring the collection of oil revenues, which are among the most important public resources for the state.

The two sides also discussed the importance of providing the necessary funding to develop the oil sector and increase its production capacity, due to its pivotal role in supporting the national economy, stressing the need to adhere to the legal frameworks and regulations governing this sector to achieve sustainability and enhance opportunities for recovery and growth.

The meeting also discussed a number of observations related to the performance of some commercial banks, emphasizing the importance of addressing them to enhance the soundness of the banking sector and consolidate the principles of transparency and institutional compliance.

The two parties emphasized the importance of integration between the CBL and the Audit Bureau regarding oversight of public financial performance and the preservation of public funds, to strengthen citizens' confidence in institutions and enhance their ability to respond to economic challenges.

They also discussed the completion of the joint training program, planned to be launched in cooperation with the Institute of Banking Studies, aimed at developing the skills of the Audit Bureau's technical staff in specialized financial and banking areas.

At the conclusion of the meeting, Shakshak presented to the governor the opinion reports and audit reports of the bank's financial statements for the years 2011 to 2016, after their approval by the Audit Bureau, which were prepared in accordance with international auditing standards, reflecting the bureau's commitment to its legal responsibilities and enhancing transparency and accountability.

=Lana=