Libya

On the continent of Africa

CBL sacks Libyan Foreign Bank GM and board of directors, who refuse to abide by decision

CBL sacks Libyan Foreign Bank GM and board of directors, who refuse to abide by decision

Libya

By Sami Zaptia. London, 17 August 2018: The Tripoli-based Central Bank of Libya (CBL), headed by Saddek Elkaber, sacked the General Manager of the Libyan Foreign Bank (LFB), Mohamed Ben Yousef, and all his board of directors on Monday. The CBL also referred them for investigation. The LFB is a wholly-owned subsidiary of the CBL. The LFB used to be known as the Libyan Arab Foreign Bank and reports issued capital of US$ 8.7 bn and paid-up capital of US$ 3 bn. While the CBL has made official statement on the matter, social and conventional media put the sacking down to a reported loss by the LFB put in the hundreds of millions of dollars Indeed, the much publicised yet officially unconfirmed move was only confirmed on Wednesday when the LFB itself issued a statement. In this statement, the LFB condemned the Tripoli-CBL action and announced that it would refuse to abide by it. It claimed that the action was unjust and illegal. The statement assured that the [...]
libyaherald, 2 days ago

Predicted: People and Culture

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UN ‘‘concerned’’ by death sentences passed on 45 pro Qaddafi killers of 2011 revolution supporting protestors

UN ‘‘concerned’’ by death sentences passed on 45 pro Qaddafi killers of 2011 revolution supporting protestors

Libya

By Sami Zaptia. London, 16 August 2018: UNSMIL has today expressed its concern on the 45 death sentence by firing squad passed by a Tripoli Court of Appeal yesterday on 45 people aligned to the Qaddafi regime who had opened fire on pro 2011 revolution supporting protestors on the main Tripoli motorway back in 2011. In its statement today, UNSMIL said that ‘‘the verdict announced on 15 August 2018 by the Criminal Circuit of the Court of Appeal of Tripoli is a cause of concern, given the 45 death sentences pronounced. UNSMIL recognizes efforts by the Libyan judiciary to hold people to account for crimes committed during the 2011 Revolution, especially amid armed conflict and political polarization. However, the United Nations opposes the imposition of the death penalty as a matter of principle’’, the short statement concluded. It will be recalled that despite other death sentences being issued by Libyan courts against former Qaddafi supporters since the [...]
libyaherald, 2 days ago

Predicted: Politics

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Fuel and Gas Crisis Committee dissolved and its head Hajrasi sacked

Fuel and Gas Crisis Committee dissolved and its head Hajrasi sacked

Libya

By Sami Zaptia. London, 15 August 2018: Brega Marketing Company, a wholly-owned subsidiary of Libya’s National Oil Corporation (NOC), confirmed yesterday the dissolution of the Fuel and Gas Crisis Committee and the sacking of its head Milad al-Majrasi. Majrasi has been ‘‘referred for investigation’’, it added. Brega is responsible for importing and distributing cooking gas and fuel in Libya. News of the two actions have been circulating on Libyan social and conventional media for at least two days now. However, yesterday Brega broke its silence in an extraordinary statement in which it claimed that both the Committee and its head were fictitious. Brega said that the Committee was an illegal entity that it never created and that its head was appointed on 5 May 2015 by the illegal National Salvation Government put in place by the militia coup of 2014. In view of this, Brega said that the very popular Fuel and Gas Crisis Committee’s Facebook Page was [...]
libyaherald, 3 days ago

Predicted: Politics

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Gun shots fired as HoR agrees in principle on referendum law, postpones vote until after Eid holiday to pass needed constitutional amendment

Gun shots fired as HoR agrees in principle on referendum law, postpones vote until after Eid holiday to pass needed constitutional amendment

Libya

By Sami Zaptia. London, 14 August 2018: Libya’s parliament, the House of Representatives (HoR), failed to pass into law the referendum bill for the country’s permanent constitution in today’s session. However, the HoR’s official spokesperson, Abdalla Belheeg, reported that the constitution referendum law was agreed by the 90-plus members present at today’s session ‘‘on the basis that article 6 of the referendum bill is improved through an amendment to (Libya’s Temporary) Constitutional Declaration in a session after the Eid (holidays)’’. Article 6 of the referendum bill stipulates that Libya is divided into three constituencies for the referendum vote. This stipulation is contrary to Libya’s current operative Temporary Constitutional Declaration of 2011 (as amended by the 2014 GNC February Committee). The session was marked by drama in the shape of gunshots being fired. There are claims and counter claims regarding the exact details. One [...]
libyaherald, 4 days ago

Predicted: Politics

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HoR fails to vote on referendum bill, discusses legal committee advice on quorum. To reconvene tomorrow

HoR fails to vote on referendum bill, discusses legal committee advice on quorum. To reconvene tomorrow

Libya

By Sami Zaptia. London, 13 August 2018: Libya's House of Representatives (HoR) failed to vote on the bill for the referendum on the permanent constitution. Instead they were presented with the legal opinion of the Legal Committee on what constitutes a quorum. The HoR was supposed to take a final vote on the 31 July session. "The HoR has resumed its formal session under the chairmanship of the First Vice-President of the House of Representatives, Fawzi al-Nueri, and in the presence of 90 members’’, HoR spokesperson Abdulla Belheeg said. "The meeting continued to discuss the draft referendum bill on the country's permanent constitution, during which the legal opinion of the advisory body of the House of Representatives was circulated to the members, which was asked to give legal opinion on the quorum for voting on a bill," he added. He said that today’s session was suspended and would resume tomorrow.   HoR fails to vote on constitution referendum bill [...]
libyaherald, 5 days ago

Predicted: Politics

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Libya, Niger, Sudan and Chad agree to create joint operation centre to strengthen border security

Libya, Niger, Sudan and Chad agree to create joint operation centre to strengthen border security

Libya

By Sami Zaptia. London, 12 August 2018: The Ministerial Meeting on strengthening cooperation in the area of security and control of the Libya-Niger-Sudan-Chad border was launched in Khartoum on Thursday to ratify and adopt the final report of the meetings of the Committee in charge of this dossier from the four countries concerned. The meeting is aimed at strengthening security cooperation and building security partnerships among the four countries, to unite their efforts in securing their common borders, combating terrorism, negative movements, human trafficking, the drug trade and cross-border crimes, as well as border-zone development projects. The formation of a Joint Operations Centre, which will undertake Joint operations and patrols and an agreement on judicial cooperation were also agreed. ''Our region faces challenges that we should collectively meet'', Libya's Presidency Council / Government of National Accord (PC/GNA) Foreign Minister, Mohamed Siala [...]
libyaherald, 7 days ago

Predicted: Politics

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Tuaregs will not be used by Saif Qaddafi as a means to political goals: HoR member Hammah

Tuaregs will not be used by Saif Qaddafi as a means to political goals: HoR member Hammah

Libya

By Sami Zaptia. London, 10 August 2018: The Tuareg House of Representatives member Saleh Hammah (Bakada) said that his people will not be used by Siaf Al-Islam Qaddafi as a means to political ends. Speaking today exclusively to Libya Herald by phone, Hammah, was responding to an alleged attack on the Tuareg people by Saif Qaddafi in a recording widely circulated on social media. In the audio recording purporting to be of Saif Qaddafi, Saif accused the Tuaregs, according to Hammah, of ‘‘treason’’ against the Libyan cause and of being in contact with ‘‘foreign agents’’. Hammah is a leading representative of the Libyan Tuareg ethnic minority, being a member of the House of Representatives (HoR) and of the 2015 Skhirat negotiation committee. He does not deny his former friendship with Saif nor the allegiance of his Tuareg people with the former regime. Indeed, he openly admitted that the Tuareg had initially stood by the former regime in opposition [...]
libyaherald, 9 days ago

Predicted: People and Culture

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Libya’s anti-smuggling efforts of subsidised goods into Tunisia causing diplomatic tensions

Libya’s anti-smuggling efforts of subsidised goods into Tunisia causing diplomatic tensions

Libya

By Sami Zaptia. London, 9 August 2018: Libya’s continued anti-smuggling efforts of its subsidised goods into its neighbouring state Tunisia is causing some diplomatic tensions. Milad Al-Hijrisi, the Chairman of the Fuel and Gas Crisis Committee of the Brega Marketing Company, a wholly-owned National Oil Corporation subsidiary, confirmed that the ‘‘Libyans were entitled to protect and secure their wealth and assets from smuggling operations’’ and entitled ‘‘to combat the smuggling of fuel from Libyan territory and to deal with this phenomenon, which threatens the country's economy’’. Speaking yesterday to the Tripoli-based official state news agency, LANA, Hijrisi said that "the security services are determined to deter this phenomenon and to stop smuggling operations that target the wealth and sustenance of Libyans everywhere across the Libyan territory, on its borders and all its outlets". Referring to the Ras Ajdir border crossing, which [...]
libyaherald, 9 days ago

Predicted: Politics

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LIA forced to abandon its Tripoli HQ due to militia coercion

LIA forced to abandon its Tripoli HQ due to militia coercion

Libya

By Sami Zaptia. London, 8 August 2018: The Libyan Investment Authority (LIA) has been forced to abandon its main Tripoli headquarters at the downtown Tripoli Tower due to persistent militia coercion and interference in its internal affairs. The LIA is Libya's sovereign wealth fund entity controlling US$ 67 bn worth of assets. Its assets are currently frozen under a UN Security Council resolution since the 2011 Libyan revolution. In a statement released yesterday, the LIA condemned the actions of the militia that is entrusted with guarding the Tripoli Tower and is nominally-aligned to the Faiez Serraj-led Presidency Council. The LIA said that the militia persistently threatened and frightened LIA employees as well as at one stage having kidnapped one manager and held him hostage at their base across from the LIA (former Women’s College). The militia also tried to coerce managers into ignoring the orders of their superiors, cut off staff emails and attempted [...]
libyaherald, 11 days ago

Predicted: Politics

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Cost of living in Libya increased by 2.75 percent in June, electronic payments failing – report

Cost of living in Libya increased by 2.75 percent in June, electronic payments failing – report

Libya

By Sami Zaptia. London, 6 August 2018: The median cost of an overall Minimum Expenditure Basket (MEB) went up by 2,75 percent across Libya in June. The cost of a basket of goods rose from LD 616 in May to LD 633 in June, with food items rising by 3.1 percent. Attempts to make electronic and mobile modalities of payment were failing, the report said. The findings come from the latest Libya Cash and Markets report by Swiss-based NGO REACH. The report assessed 503 shops for 34 items in 29 cities across Libya from 1-8 June. The black-market exchange rate for the assessed period was LD 7.2 per US dollar and LD 8.37 per Euro. The report stated that ongoing difficulties with the supply of subsidised flour to bakeries caused a rise in prices reaching 19.0% for flour and 10.1% for bread in 4 months. In Tripoli, many bakeries went on strike to demand that subsidised wheat flour be provided at earlier levels.  According to key indicators (KIs) in Benghazi, bakeries [...]
libyaherald, 13 days ago

Predicted: Politics

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