Tripoli, August 18 – Libya’s central bank abruptly suspended all operations on Sunday following the kidnapping of a senior official. The bank, the sole internationally recognized custodian of the war-torn nation’s vital oil revenues, declared it would not resume work until the abducted employee is released.
Musaab Muslam, the bank’s head of information technology, was seized earlier in the day by unidentified assailants, according to a bank statement. The central bank vehemently condemned the “mob-like tactics” employed by the perpetrators, asserting that other bank officials had also faced threats.
The decision to halt operations underscores the precarious security situation in Libya, which has been mired in conflict since the 2011 overthrow of Muammar Gaddafi. The country remains divided between rival administrations based in Tripoli and Benghazi, with armed factions vying for control.
The U.S. ambassador to Libya, Richard Norland, has expressed deep concern over the escalating tensions surrounding the central bank. He warned last week that attempts to forcibly replace the bank’s leadership could isolate Libya from the global financial system. Norland met with the bank’s governor, Sadiq Kabir, to discuss the growing threat posed by armed groups to the bank’s headquarters.
The ambassador emphasized the need for a negotiated solution to Libya’s economic disputes, calling for a transparent and inclusive budget process. However, despite repeated attempts to broker a peace deal, the country remains in a state of political deadlock.
Recent clashes in Tripoli, which left multiple casualties, further highlight the volatile security environment. The kidnapping of the central bank official is a stark reminder of the challenges facing Libya as it struggles to rebuild and stabilize.
