Libya's central bank suspends operations after kidnapping of official
Business
Libya's central bank suspends operations after kidnapping of official
DUBAI (Reuters) - Libya's Tripoli-based central bank said on Sunday it would shut down all operations and not resume work until a senior bank official kidnapped earlier in the day was released.
The central bank is the only internationally recognised depository for Libyan oil revenues, a vital economic income for a country torn for years between two rival governments in Tripoli and Benghazi.
The bank said an unknown party was behind the abduction on Sunday of Musaab Muslam, head of its information technology department.
"The bank rejects the mob-like methods that are practiced by some parties outside of the law," it said in a statement.
It added that other bank officials had also been threatened and therefore it would suspend operations until "these practices are stopped and the concerned authorities intervene".
Richard Norland, the US ambassador to Libya, said last week that attempts to replace the bank's senior management by force could result in the North African country losing access to international financial markets.
Norland met with bank governor Sadiq Kabir to discuss concerns about armed groups gathering around the bank's headquarters in Tripoli, the US embassy said.
"Disputes over distribution of Libya's wealth must be settled through transparent, inclusive negotiations toward a unified, consensus-based budget,” Norland said.
