Central Bank, Finance Ministry and NOC coordinate for economic stability
LIBYA – Dr Fawzi Musbah Abukhzam, who is carrying out the duties of Governor of the Central Bank of Libya (CBL), held talks on Monday with Rashid Abu Ghafa, Minister of Finance in the Dbeibah government, and Masoud Suleiman, chairman of the National Oil Corporation (NOC), to discuss strengthening cooperation between the three institutions to support financial and economic stability.
Complementary mandates and managing financial resources
The meeting discussed joining up efforts and coordinating procedures between the Central Bank, the Ministry of Finance and the NOC as key bodies in managing the country’s financial and economic resources, so that their work complements each other while respecting each institution’s mandate.
Central Bank support for the NOC
Abukhzam affirmed the Central Bank’s readiness to provide the NOC with the necessary support within its mandate, the legislation in force and the resources available, so that the corporation can continue its work, sustain its operations and maintain its role in the national economy.
Agreement on procedures and information sharing
The meeting stressed the importance of agreeing on joint working mechanisms and strengthening direct communication and information sharing between the three institutions, in order to overcome difficulties, simplify procedures and improve the efficiency of managing state resources.
