Libya Central Bank governor flees in fear for his life, FT says

Libya’s Central Bank Governor, Sadiq Al-Kabir, said he and other senior bank staff had been forced to flee the country to protect their lives from potential attacks by an armed militia, the Financial Times reported today.

Tripoli-based Prime Minister Abdul Hamid Dbeibeh has been pushing for the removal of Al-Kabir

“The stand-off came to a head this week when a committee from the Tripoli government took over the premises of the central bank in the coastal city,” the FT reported. Armed groups then began intimidating staff into operating the institution, according to Al-Kabir, who said he then fled to an undisclosed location.

Last week the UN Libya mission raised concerns about reports of forces mobilising in Tripoli and threats of force to resolve a crisis over control of the Central Bank.

Days earlier, Central Bank official Musaab Muslam was kidnapped.

The central bank is the only internationally recognised depository for Libyan oil revenues, a vital economic income for a country torn for years between two rival governments in Tripoli and Benghazi.

The latest round of tensions emerged after efforts by political factions to oust the Central Bank of Libya (CBL) head Sadiq Al-Kabir, with rival armed factions mobilising on each side.

Read: Libya’s Central Bank crisis exposes lack of legitimacy and strong foreign meddling hampering Libya’s progress