Home / Politics / Despite announcing the readiness of the procedures … the process of auditing the two central banks accounts is still stalled.

Despite announcing the readiness of the procedures … the process of auditing the two central banks accounts is still stalled.

On July 27, the Acting Head of the United Nations Support Mission in Libya, Stephanie Williams, announced the completion of the necessary procedures to start the international financial auditing of the accounts of the Central Bank of Libya in the capital, Tripoli, and the parallel in Al-Bayda.

This step was widely welcomed internationally and locally. Because it supports transparency in the procedures and transactions of the two banks, and stops the monopoly of the decision making operations, and the embezzlement of public funds.

The step to restore integrity

Williams confirmed at the time that this process was the culmination of a process that began with a commendable step by Fayiz Al-Sarraj, Prime Minister of the Government of National Accord, on July 10, 2018, in a letter he addressed to the Secretary-General of the United Nations, Antonio Guterres, requesting the United Nations to facilitate an international auditing of the accounts of the two branches of the Central Bank of Libya. In Tripoli and Al-Bayda, a way to restore integrity, transparency and confidence in the Libyan financial system, and to create the necessary conditions for the unification of Libyan financial institutions.

Williams added that on September 13, 2018, the United Nations Security Council, in its Resolution No. 2434, instructed the United Nations Support Mission in Libya to facilitate the procedures for starting the required financial auditing process.

Bashagha welcomed the auditing

The Minister of Interior, Fathi Bashagha, welcomed the announcement by the United Nations Support Mission in Libya that the procedures for auditing the accounts of the Central Bank of Libya would begin, calling on the international community to exert pressure, in order to resume oil production.

Bashagha indicated that this step achieves the principle of transparency in revenues and expenditures, and strengthens citizen confidence in the state, and called on the international community to exert pressure. To resume oil production through the legitimate enterprise; To revive the economy, and to be reflected in the prosperity of the citizen.

stillness prevails over auditing

However, we have not yet seen tangible steps followed after this announcement, which apparently remained confined to paper, as a result of the intransigence of the two central banks in submitting accounts to start the auditing.

Last August, the Acting Special Representative of the Secretary-General of the United Nations, Stephanie Williams, discussed with Representative Ahmed Maiteeq the process of auditing and reviewing the accounts of the Central Bank of Libya, without mentioning any other information about the auditing process.

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