British Embassy: Central bank audit a vital step to enhance transparency in the Libyan financial system

Alwasat - Cairo Wed 29 Jul 2020, 11:20 AM
alwasat radio

The British Embassy in Libya  welcomed the announcement of the international financial review of the Central Bank of Libya, considering that this process "a vital step towards enhancing transparency in the Libyan financial system and laying the groundwork for eventual reunification of the Central Bank of Libya."

The acting Head of the United Nations Support Mission in Libya, Stephanie Williams, announced on Monday, "the completion of the necessary measures to initiate the international financial audit of the two branches of the Central Bank of Libya" in Tripoli and Al-Bayda.

Williams said, in a statement received by Alwasat, that this process is "the culmination of a process laudably commenced by GNA Prime Minister Sarraj on July 10, 2018 in a letter to UN Secretary General Antonio Guterres in which he requested the United Nations to facilitate an international audit of the Central Bank branches." The statement added that on September 13, 2018, the United Nations Security Council, in its resolution No. 2434, mandated the United Nations Support Mission in Libya to "facilitate the procedures for starting the required financial review process."

The mission indicated that the representatives of the Central Bank in Tripoli and Al-Bayda “ voted unanimously to award the contract to Deloitte, in line with the best practices and advice of technical professionals at the United Nations." Adding, that the audit will begin as soon as possible.

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