Libya central bank governor handover completed
Fawzi Abu Khazam officially received duties from former Governor Naji Issa at the CBL.
The Central Bank of Libya (CBL) announced on Tuesday that formal handover procedures for the Governor's office have been completed. Current Governor Fawzi Abu Khazam officially received the duties from former Governor Naji Issa. The ceremony included the signing of an official handover protocol to ensure the continuity of the bank's functions.
The proceedings were attended by members of the Board of Directors and department heads. Photographs showed the two governors shaking hands and the outgoing governor signing documents. The former governor was honoured for his contributions during his tenure.
The CBL stated the transition underscores a commitment to institutional governance and administrative stability. However, the installation of the new governor on October 22 was described as a forceful, coup-like action, with institutional niceties performed afterwards.
Why it mattersThe handover of the Central Bank of Libya's governorship affects the country's administrative stability and institutional governance.