Libya's Central Bank Chief Ousted Amid Political Turmoil

Libya's presidential council in Tripoli has removed Central Bank Governor Sadiq al-Kabir and appointed Mohamed Abdul Salam al-Shukri. The move, aligning with Prime Minister Abdul Hamid Dbeibah's government, may escalate tensions in the divided nation. Al-Kabir, governing since 2011, faced growing criticism over oil revenue allocation.

The governmental council in Tripoli has taken unilateral action by dismissing Libya's influential Central Bank Governor Sadiq al-Kabir. This surprising development is expected to further strain the already tense atmosphere in the divided North African country.

According to a decree issued late Sunday, the presidential council, which supports Prime Minister Abdul Hamid Dbeibah's administration, has appointed Mohamed Abdul Salam al-Shukri, an economist and former deputy governor, as the new head of the Central Bank of Libya.

Al-Kabir has been at the helm of the central bank since October 2011, the year Libya descended into chaos following the NATO-supported uprising that ousted longtime dictator Moammar Gadhafi. During his tenure, al-Kabir amassed substantial influence but also faced criticism from various political factions over the distribution of Libya's considerable oil wealth. In recent months, calls for his removal had gained momentum. Notably, al-Kabir has yet to make any public comments on his dismissal.

(With inputs from agencies.)