Governor of the Central Bank of Libya (CBL), Siddiq al-Kabir, met Sunday with work team formed by CBL’s departments to implement plan to unify the Bank, in Benghazi and Tripoli, according to the results of the International Financial Audit Review of the Bank, said CBL statement.
The meeting dealt with defining the tasks of the formed work teams regarding technical, legal, and administrative aspects, as it was agreed to develop an integrated framework for all work teams, according to the statement.
The International Financial Audit Review seeks to create the conditions and provide recommendations to unify the CBL thereby improving public confidence, transparency, and integrity of the banking sector. UN Support Mission in Libya (UNSMIL) facilitated the process that included concluding the terms of reference for the Review with both CBL branches. To ensure independence and best practice, the United Nations Office of Project Services (UNOPS) managed the procurement process that resulted in the selection of Deloitte as the independent auditor, according to UNSMIL.