A new political fight lies ahead for the country's sovereign position of governor of Central Bank of Libya.
The term of the current governor Al-Siddiq Al-Kabir is expected to expire on September 26 according to the amended law 46, which was passed by the General National Congress in 2012. The law awarded Al-Kabir a five-year term of office.
The bank's board of directors is also expected to be reformed, but this is unlikely to run smoothly because of the country's political division.
Tobruk-based House of Representatives is expected to name its own substitute to grasp more power and make sure that the country's multi-billion funds are under control.
In 2014, the HoR passed a unilateral decision to sack Al-Siddiq Al-Kabir, replacing him with Ali Al-Hibri, but it was only in vain.
Article 15 of the Libyan political agreement stipulates that the House of Representatives shall consult with the High Council of State in order to reach consensus within thirty (30) days of the endorsement of the agreement to name a governor for the Central Bank of Libya, but Tobuk parliament has not yet approved the agreement.
Meanwhile, sources close to Tripoli-based High Council of State said the latter has already embarked on consultations to name incumbents for the sovereign leadership positions including the governor of Central Bank of Libya.
Other sources also indicated that the current governor Al-Siddiq Al-Kabir will not give up easily and will exploit the ongoing political chaos to remain in office.