Currency

HoR member hints at political motive behind CBL governor’s currency fee


Member of the House of Representatives (HoR) for Zliten, Amar Al-Ablaq, says that the authority to adjust the exchange rate of currencies against the dinar falls within the jurisdiction of the Central Bank of Libya (CBL).

Speaking to Al-Quds Al-Arabi, Al-Ablaq disclosed that the CBL Governor Sadek Elkaber proposed a 27 per cent fee on the purchase of hard currencies, a decision that falls outside the jurisdiction of the HoR.

In the interview, he highlighted the objection of many HoR members to Council Speaker Agila Saleh’s decision and the unusual consensus between the CBL governor and MPs after years of estrangement, hinting at ‘political calculations.

“Due to the continued conflict between the two councils, no agreement was reached on the occupants of key positions, enabling the incumbent governor to remain in his position since 2011, AlAblaq said.

He also suggested that the disagreement between the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibah, and the CBL governor may have led to reconciliation between the latter and Saleh, who impeached Dbeibah’s government and appointed a parallel authority in the east.

It may be worth noting that the HoR had approved the Central Bank’s request to tax foreign currency, which triggered widespread controversy.



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