Sadiq Al-Gharyani is the Grand Mufti. He belongs to the General National Congress. He was removed by Parliament. Al-Gharyani stated this week’s directive is utterly bewildering. This directive concerns the Central Bank of Libya’s data. He questioned how the liquidity crisis could ease. He also asked how prices could fall. He wondered how foreign currency rates could decrease. He questioned how the Libyan currency could rise. All these expectations arose as the Libyan currency was devalued this week. He considered this a “greater loss.” He also called it “humiliation and disgrace.”
Al-Gharyani explained this on his program. The program is “Between the Lines.” It airs on his channel, Al-Tanasuh. Al-Marsad newspaper monitored the broadcast. He stated that Libyans buy dollars with cheques for over ten dinars. Previously, the price was six dinars. He added that this represents a 40% loss of income for people. Someone earning one thousand dinars effectively receives only four hundred dinars.
He wrote to the Minister of Economy three to four years ago. The letter addressed this topic. He demanded conditions for imported goods. He also demanded rules and a law. These should be based on a known budget. They should also meet the country’s needs. He believes the government should oversee this. Specifically, the Ministries of Economy and Finance. These bodies have become marginalized, he said. The Ministry of Economy has no role whatsoever.
Al-Gharyani explained the process for letters of credit. They are submitted to the Central Bank. The Central Bank has fixed lists. These lists contain major traders. They are accustomed to “looting letters of credit.” A weak institution cannot transfer one hundred thousand dollars. These “approved customers” have permanent priority. He stated that some of them have not imported any goods at all.
Al-Gharyani questioned which body determines the required goods. He criticized the opening of letters of credit. The market is “covered beyond its needs.” It covers beyond seven million people. It reaches up to forty million. He gave examples. Letters of credit for sugar amounted to $500 million. Credits for mobile phones reached about $1.5 billion.
He explained this occurs through “exploitative” traders. This is according to his statements. They buy goods at 6.5. Then they sell them at eight or nine. They then smuggle these goods to neighboring countries. Dozens of types of the same commodity spread in the market. He called this a flaw. The cause is “usurping competencies from their rightful owners.”
Al-Gharyani affirmed the government’s role. Financial and economic policy is its responsibility. It is not the Central Bank’s role. The Central Bank has not succeeded. Not even in monetary policy. It continues to devalue the currency. It increases burdens on people. It does not provide liquidity. He called for granting powers to the Ministry of Economy. He also advocated a clear import policy.
He held the Prime Minister greatly responsible. Funds are decreasing monthly. This is “at an alarming rate.” This could end in a scandal. Libya is an oil-rich nation. Its people could have lived in prosperity. He stated, “Whoever turns a blind eye to a thief is his accomplice.”
Al-Gharyani addressed medical reports. They warn of a health explosion. This is due to the spread of tuberculosis. Cases increase by about three thousand annually. Sixty percent of TB hospital patients are African foreigners. They receive free treatment. This depletes medicines. It deprives Libyans of them, he said. He called on the National Center for Infectious Diseases. He also called on the government and the Ministry of Interior. They should address the migration issue. They should also provide treatment.