Call to expand documentary credit disclosures
Libya – Economic expert Rafi Al-Shawish said that the letters-of-credit lists published by the Central Bank of Libya should include the name of the company commissioner or the person with legal standing, as well as the type of goods, the company’s capital, its founding date and location, and the value of the credit granted to it.
Conflicts of interest and centres of influence
In remarks exclusively to the Abaad platform, Al-Shawish stressed that knowing the name of the company commissioner could, in his assessment, expose conflicts of interest, intertwined relationships and ties between some beneficiaries and centres of influence.
He explained that publishing these data could help explain why one company obtains a credit worth 100 million while another gets 20 million, and others receive nothing.
He noted that making this information available would enable citizens to know where state funds go, who receives foreign exchange, and on what basis it is allocated, arguing that this strengthens accountability, exposes shortcomings and helps prevent conflicts of interest.
