Banking consultant Ibrahim Omar Al-Haddad accused the Central Bank of Libya of being “the most failed and corrupt central bank in the world.”
In a post on his Facebook account, Al-Haddad attributed this accusation to what he described as the corruption of the bank’s operations, procedures, and decisions, its violation of laws, and its disregard for judicial rulings and international banking standards.
The economic consultant explained that the bank’s policies have contributed to creating a corrupt wealthy class and to the illegal disbursement of funds to benefit governments, entities, and armed groups, which has exacerbated the financial, monetary, economic, and banking crises.
He warned that the current situation of the Central Bank constitutes “the greatest threat to the national security of Libya and the Libyans.”