Your account has been succesfully created.

EN FR

The Morning Brief
Log in

Password

Keep me logged in

Forgot your password?
Subscribe

Libya
Libyan Foreign Bank: to stay in power, Sarraj wrests LFB back from Central bank boss al-Kabir

Libyan Prime Minister Fayez Sarraj. © CLAUDIO PERI/EPA/Newscom/MaxPPP

Fayez Sarraj hopes to use the lack of any political agreement on Libya's future to keep his job. He is seeking to shore up his position by bringing national financial institutions under his sway, with the help of National Oil Corp boss Mustafa Sanalla. [...]

Published on 27/11/2020 at 06:00 GMT Reading time 3 minutes

This article is free

Create an account to read more

Do you want a free trial before subscribing?

create a free account

Politics

Set up email notifications for these topics

Aguila Salah Issa
Ahmed Miitig
Al Seddik Omar al-Kabir
Ali Bani
Central Bank of Libya
Faraj Boumtari
Fathi Bashagha
Fayez Sarraj
Khalifa Haftar
Libyan Foreign Bank
Libyan Investment Authority
Libyan National Army
Libyan Political Dialogue Forum
Muslim Brotherhood
Mustafa Sanalla
Mustapha al-Manea
National Oil Corporation
Petroleum Facilities Guard
Recep Tayyip Erdogan
Stephanie Williams
Yousef al-Mabrouk

Libya
Oil blockade: how over-eager US shot itself in the foot

In its hurry to get Libyan oil production on to a sure footing, the United States rushed through an arrangement intended to depoliticise management of the country's oil revenues. It forgot, however, about Khalifa Haftar, who responded by having two key oil fields shut down.

Subscribers only Energy, Business 25.04.2022

US Ambassador to Libya Richard Norland (l) with the head of the Libyan Central Bank, Al Seddik Omar al-Kabir, January 2022.

Inner circles | Libya
Central Bank of Libya at heart of battle between Dabaiba and Bachagha

With billions of dollars of oil revenues in its coffers, the politically powerful Central Bank of Libya has been presided over for a decade by the unbudgeable Al Seddik Omar Al Kabir. It recently began the process of reuniting with its breakaway branch in eastern Libya and found itself straight away in the middle of the tug-of-war between Abdelhamid Dabaiba and Fathi Bachagha for the premiership.

Subscribers only Politics 18.02.2022

The Governor of the Libyan Central Bank (LCB) Al Seddik Omar al-Kabir.

Libya
Oil reconstruction billions lie at heart of Aoun-Sanalla war

Oil minister Mohamed Aoun, who is still trying to oust NOC boss Mustafa Sanalla, is now targeting his management of a London-based structure in charge of distributing contracts to petroleum engineering majors.

Subscribers only Energy, Business 22.10.2021

Oil minister Mohamed Aoun (left) and the president of the National Oil Corporation (NOC), Mustafa Sanalla (right).

Spotlight | Libya
One billion dollars keeps Ali Mahmoud Hassan at LIA helm

The chairman of Libya's sovereign wealth fund will remain in office in exchange for a payment of one billion dollars to the government. The money is a godsend for Prime Minister Abdelhamid Dabaiba, who may also be able to place his allies in the fund's subsidiaries.

Subscribers only Politics 02.07.2021

Libya
Al Kabir handpicks new Libyan Foreign Bank committee

The governor of the Central Bank of Libya, Al Kabir, didn't take the trouble to consult with his board before appointing the new management team for Libyan Foreign Bank, keeper of the country's oil revenue.

Subscribers only Politics 15.04.2021

Central Bank of Libya Governor Al Seddik Omar Al Kabir.

Libya
With Dabaiba in his corner, Kabir hopes to reassure UK investors

Al Seddik Omar al-Kabir, who kept his job as governor of the Libyan Central Bank after Abdelhamid Dabaiba took the helm of the new transitional unified government on 15 March, has made numerous official appearances in recent days and is planning more.

Subscribers only Business 22.03.2021

Libya
Abdelhamid Dabaiba, the businessman who became prime minister

The powerful Libyan businessman Abdelhamid Dabaiba, tasked with forming a new interim government, faces serious political opposition, even in his stronghold Misrata.

Subscribers only Diplomacy 11.02.2021

Prime Minister of the Libyan Government od National Unity Abdelhamid Dabaiba.

Libya
Central bank governor al-Kabir on a knife edge

Engaged in a battle for the control of Libyan Foreign Bank with Prime Minister Fayez Sarraj, the governor of the Libyan central bank Al Seddik Omar al-Kabir has been excluded from discussions about the future of the country's economy.

Subscribers only Business 15.01.2021

Seddiq Al Kabir, governor of the Central Bank of Libya.

Libya
Italy's diplomats and intelligence agents seek rapprochement between Libya's east and west

The rapprochement that Italy is seeking to engineer between General Haftar and Ahmed Miitig is economically as well as diplomatically motivated and has already resulted in the release of Italian fishermen detained by the strongman of the east.

Subscribers only Diplomacy 24.12.2020

Libyan General Khalifa Haftar (right) and Italian Prime Minister Giuseppe Conte (left).

Libya
Bachagha enrols DCAF for security reforms

The interior minister Fathi Bachagha has signed a memorandum of understanding with the Geneva Centre for Security Sector Governance with a view to reforming Libya's institutions. The country's oil facilities are at the heart of the political and geopolitical issues at stake in the conflict.

Subscribers only Diplomacy 17.12.2020

Libya
LIA doesn't let up on Crowne Plaza in UK

The Libyan Investment Authority wants to recover the £12m it invested in 2010 for the construction of a hotel in England but the accused party's lawyers deny that their client conspired against the fund.

Subscribers only Business 10.12.2020

Libya
Odds against Central Bank governor Al Kabir as board meeting looms

In the battle for control of the country's oil money, Prime Minister Sarraj could succeed in having the Central Bank of Libya board dismiss its governor Al Seddik Omar Al Kabir.

Subscribers only Politics 09.12.2020

The governor of the Libyan Central Bank Al Seddik Omar Al Kabir, has remained in office sincehis term expired in 2014.

Libya
As UN bides for time, Haftar and Sarraj prepare for clash in Fezzan

The historic southern Libyan region could become the next battleground between the Tripoli forces and Khalifa Kaftar's army while talks drag on.

Subscribers only Politics 01.12.2020

Spotlight | Libya
Far from the gilded conclave in Tunis, Sarraj and Haftar negotiate the ceasefire nuts and bolts in Sirte

Armed forces from the west and east of Libya are due to set out the modalities of the permanent ceasefire agreed in Geneva on 23 October. But the devil is in the details and neither side is keen to withdraw from the Sirte-Jufra axis.

Subscribers only Politics 12.11.2020

Libya
Stephanie Williams to host latest round of Libyan peace talks at Four Seasons in Tunis

The five-star hotel owned by the businessman Marouane Mabrouk has been chosen as the venue for the latest round of Libyan negotiations, which will once again be overseen by the American diplomat Stephanie Williams.

Subscribers only Diplomacy 06.11.2020

The 5-star Four Seasons hotel in Tunis will host a new round of Libyan negotiations on 9 November.

Libya
Al Kabir places his men at head of Libyan Foreign Bank to keep eye on petrodollars

The Central Bank of Libya governor has positioned his strongmen on the provisional board of the LFB, which handles all of NOC's petrodollars, as part of his power struggle against Prime Minister Fayez Sarraj.

Subscribers only Business 26.10.2020

The governor of the Libyan central bank, Al Seddik Omar Al Kabir.

Spotlight | Libya
UNSMIL set to launch Tunis peace talks with no leader

The African Union has nixed the only candidate up for replacing Ghassan Salamé at the head of the UN mission. Interim chief Stephanie Williams' term expires on 3 November.

Subscribers only Politics 15.10.2020

The tenure of Stephanie Williams, interim head of UNSMIL, will expire on 3 November 2020.

Spotlight | Libya
Behind-the-scenes battle in Tripoli for top intelligence job

The coveted post of Tripoli intelligence chief is giving rise to a power struggle within the government as Turkey considers a major overhaul of the intelligence services.

Subscribers only Politics 02.07.2020

Turkish Foreign Minister Mevlüt Çavusoglu was on a trip to Tripoli on 17 June, along with the head of the Turkish intelligence agency MIT, Hakan Fidan, as Ankara seeks to weigh in on the overhaul of Libyan intelligence.

Spotlight | Libya
Fathi Bachagha and the Misratis prepare for a Khalifa Haftar victory

The advances made by General Khalifa Haftar's forces on the Tripoli front have made the Misrati faction in Fayez Sarraj's government of national accord (GNA) nervous. Misrati businessmen, politicians and military commanders have started to drop their allies in the [.

Subscribers only Politics 28.11.2019

Set up email notifications for these topics

Aguila Salah Issa
Ahmed Miitig
Al Seddik Omar al-Kabir
Ali Bani
Central Bank of Libya
Faraj Boumtari
Fathi Bashagha
Fayez Sarraj
Khalifa Haftar
Libyan Foreign Bank
Libyan Investment Authority
Libyan National Army
Libyan Political Dialogue Forum
Muslim Brotherhood
Mustafa Sanalla
Mustapha al-Manea
National Oil Corporation
Petroleum Facilities Guard
Recep Tayyip Erdogan
Stephanie Williams
Yousef al-Mabrouk

Once registered, you will be notified by a short message on your computer or mobile phone as soon as a new edition of our publication or an alert is published. Stay informed anytime, anywhere!

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Mali, Senegal, Togo
The secrets of Demex, the trader selling Russian oil in West Africa