The House of Representatives (HoR), which rules east Libya except Derna, is expected to elect a new governor for the Central Bank of Libya (CBL) on Tuesday, a controversial step that would cause rift within the sovereign body that manages the country’s multi-billion assets and add fuel to the existing political fire.

HoR sources said four candidates are competing for the new position including the current governor of the parallel CBL in Bayda Ali Al-Hibri, former CEO of Jumhouria Bank Ahmed Rajab, Mohammed Al-Shukri and Abdul-Hamid Al-Shiekhi. The four are in favour of HoR and Dignity Operation.

Tripoli-based High Council of State downplayed HoR attempts to elect a new governor. It clarified in a press release last week that the post of the governor of Central Bank of Libya is one of the seven sovereign positions whose incumbents cannot be appointed or dismissed except by consensus of the High Council of State and the House of Representatives according to the Libyan political agreement signed in Morocco in December 2015. The House of Representatives does not recognize the agreement and considers all bodies emanating from it illegitimate.

Head of the council Abdul-Rahman Al-Swaihli met with the governor of Central Bank of Libya Siddiq Al-Kabir in Tripoli on Monday. Al-Swaihli reiterated that any unilateral actions will end in failure.