Libyan Central Bank Halts Operations After Senior Official Abducted

The Tripoli-based Libyan Central Bank has halted operations following the abduction of its IT head, Musaab Muslam. The bank, an essential depository for Libyan oil revenues, has suspended activities until Muslam's release. The U.S. ambassador warns that such tensions threaten Libya's access to international financial markets.

The Tripoli-based Libyan Central Bank announced Sunday it would cease all operations until Musaab Muslam, a senior bank official abducted earlier in the day, is released.

The central bank, a crucial repository for Libyan oil revenues, stated unknown assailants kidnapped Muslam, head of its IT department.

The bank condemned the illegal methods used by certain factions and revealed other officials had been threatened, prompting the shutdown.

U.S. ambassador to Libya, Richard Norland, warned that forcefully replacing the bank’s senior management could isolate Libya from international financial markets.

Norland's meeting with bank governor Sadiq Kabir discussed concerns over armed groups surrounding the Tripoli headquarters.

Tensions have continued in Libya since the 2011 NATO-backed uprising and subsequent division between eastern and western factions.

The Tripoli-based Government of National Unity, led by interim Prime Minister Abdulhamid al-Dbeibah, contrasts with eastern Libya's control under military commander Khalifa Haftar.

Despite a 2020 truce, achieving a political resolution remains challenging.