The Arab League has welcomed the announcement of the reunification of the Central Bank of Libya (CBL) after over eight years of division, and expressed the Secretary-General’s readiness to direct the relevant joint Arab action institutions to provide advice and technical assistance to the CBL to proceed with the reunification procedures.

The spokesman for the Secretary-General of the Arab League, Jamal Rushdi, said they hoped that this important step would represent an incentive to unify the rest of the Libyan state institutions, which had suffered greatly as a result of division over the years, and that this development could put an end to the lack of transparency and fairness in the distribution of national wealth revenues that always formed a fundamental point of contention among the political actors.

Rushdi reaffirmed the importance of this reunification being an encouraging step for all actors in Libya to revitalize the political process and move it forward toward holding the expected presidential and parliamentary elections in accordance with electoral laws that would guarantee acceptance by all fir the results, in a way that could produce unified Libyan national governing institutions.

The Governor of the CBL, Al-Siddiq Al-Kabir, and his Deputy Marie Raheel, announced Sunday the reunification of the CBL as a state sovereign institution after over 8 years of division and the creation of a parallel CBL headquarters in Benghazi, eastern Libya.

Local and international stakeholders and parties welcomed the step, calling for handling the impact of the period of division, considering the reunification a step that could lead to reunifying other state sovereign institutions.