Egypt reaffirms commitment to Libyan stability

The Speaker of the Egyptian Parliament, Hanafy El-Gebaly, has reaffirmed Egypt’s commitment to fostering stability in Libya. Speaking during a parliamentary session, Mr El-Gebaly emphasised Egypt’s ongoing support for Libyan national institutions in their pursuit of a political resolution. He stressed that any such resolution should be Libyan-led and free from external influence.

This statement aligns with Egypt’s wider diplomatic efforts to restore peace and security in Libya, underscoring the importance of national unity and stability within the region.

On Monday, Egypt welcomed the agreement reached between Libya’s House of Representatives and the High Council of State to appoint new leadership for the Central Bank. This move is seen as a crucial step towards stability in the country, which has been grappling with a severe crisis for several months.

According to a statement released by the Egyptian Ministry of Foreign Affairs, the announcement followed a unanimous vote by the Libyan House of Representatives in favour of appointing Naji Essa as the new Governor of the Central Bank, with Marai Al-Barassi as his deputy.

Egypt applauded the agreement between the two Libyan bodies to resolve the Central Bank dispute, expressing hope that this decision will lead to stability across all Libyan regions.

The Egyptian government reaffirmed its commitment to continued support for these efforts, working in coordination with regional and international partners to safeguard the resources of the Libyan people.

Naji Essa: A Prominent Figure in Libyan Banking

Naji Essa is a highly respected figure within Libyan banking, boasting over 30 years of experience in the financial sector. His career at the Central Bank began in 1996, where he held a number of strategic positions, becoming a key architect of Libya’s financial policies.

His extensive experience includes serving as an advisor to former governor Al-Siddiq Al-Kabeer and leading departments such as Banking Supervision and Research and Studies.

Mr Essa played a vital role in managing Libya’s financial crises, contributing to policies that stabilised the Libyan dinar amidst economic and political turmoil.

His efforts to maintain currency stability have earned him widespread recognition, and expectations are high that he will restore confidence in the Libyan economy.