Libya’s eastern parliament appointed Naji Mohamed Issa Belqasem as the new central bank governor on Monday, following the dismissal of former governor Sadiq al-Kabir last month by the Tripoli-based presidential council.
Parliament spokesperson Abdullah Bliheg announced that all 108 lawmakers supported Belqasem’s appointment. Belqasem previously served as the central bank’s director of banking and monetary control. Mari Muftah Rahil Barrasi was also appointed as his deputy, and both are expected to form a new board of directors within 10 days.
The decision aligns with a U.N.-facilitated agreement between the parliament and the High Council of State to establish new leadership for the central bank.
In September, the presidential council in Tripoli, which is allied with Prime Minister Abdul Hamid Dbeibah’s government in western Libya, named Mohamed Abdul Salam al-Shukri as al-Kabir’s replacement. However, Libya’s eastern parliament and the High Council of State argued that the move was invalid as it didn’t include input from both bodies, as required by interim regulations set during U.N.-backed unity talks.
Al-Kabir, who had served as central bank governor since October 2011, faced criticism from both political factions over his handling of Libya’s oil revenue.
