Central Bank Overhauls Board Committees in First Meeting Under Acting Governor

TRIPOLI – The board of directors of the Central Bank of Libya has reconstituted its monetary policy committee and created three new specialised committees at its first meeting under Acting Governor Fawzi Abu Khazam, according to a statement published on the bank’s official Facebook page.

The meeting followed the House of Representatives’ acceptance of Naji Issa’s resignation and its decision to task Abu Khazam with running the governor’s office.

The board also updated its internal regulations to ensure meetings are held regularly, in line with the law, the statement said. The new committees will cover governance, audit and risk, and appointments. The board said the measures are aimed at strengthening governance and transparency and supporting monetary and financial stability.

It is the bank’s first institutional move since leadership passed to Abu Khazam. It comes as the bank faces pressure over the exchange rate, liquidity and the management of foreign-currency resources.