Bank Turmoil in Libya Amid Militia Threats

Libya's central bank governor Sadiq al-Kabir and senior staff have fled the country due to threats from armed militias. These militias are intimidating bank employees, even abducting their relatives. Kabir challenged interim PM Abdulhamid al-Dbeibah's attempts to replace him, claiming it violated U.N. accords managing the central bank.

Libya's central bank governor Sadiq al-Kabir and senior bank staff have been compelled to leave the country as a defensive measure against potential attacks by armed militias, the Financial Times disclosed on Friday.

'Militias are threatening and terrifying bank staff and are sometimes abducting their children and relatives to force them to go to work,' Kabir communicated to the newspaper via telephone. He also asserted that interim Prime Minister Abdulhamid al-Dbeibah's efforts to replace him were unlawful, violating U.N. negotiated agreements governing the central bank.

The escalating conflict over the Central Bank of Libya adds another layer of instability to the nation, a key oil producer currently divided between eastern and western factions supported by Turkey and Russia. Earlier this week, the U.N. Support Mission in Libya called for the suspension of unilateral decisions, lifting the force majeure on oil fields, cessation of escalation and violence, and protection of central bank employees.

(With inputs from agencies.)