The General Union of Chambers of Commerce, Industry and Agriculture in Libya announced its full support for the recent decisions of the Presidential Council to appoint a new Board of Directors for the Central Bank of Libya.
The Union considered in a statement that this step represents an important turning point toward enhancing efficiency and transparency in the management of national institutions, and comes within the framework of the ongoing pursuit of achieving sustainable development and pushing the Libyan economy forward.
It said that activating the principle of governance and transparency in the management of the Central Bank is an urgent necessity to ensure the achievement of its national goals and to enhance confidence in Libya's financial institutions.
It added that it is no longer possible in light of the current challenges for one individual to manage the Central Bank alone, considering that the formation of a new Board of Directors as a reflection of the Presidential Council's commitment to strengthening collective governance, which enhances the ability of institutions to respond effectively to the requirements of the current stage.
The Union expressed its hope that the new board will carry out its responsibilities to full extent, and contribute to improving the business environment and supporting the commercial, industrial and agricultural sectors in Libya.
The statement also called on all members of the Union and relevant parties to provide all possible support to the new board to ensure its success in achieving the desired goals. It renewed its full commitment to cooperate with all state institutions in a way that enhances economic and social stability and achieves the interests of the nation and the citizens.
