{"id":49602,"date":"2022-08-10T02:37:41","date_gmt":"2022-08-10T02:37:41","guid":{"rendered":"https:\/\/www.africannewspaper.net\/2022\/08\/10\/uk-foreign-affairs-committee-brands-libyan-central-bank-governor-financier-of-militias-gangsters-the-north-africa-post\/"},"modified":"2022-08-10T02:37:47","modified_gmt":"2022-08-10T02:37:47","slug":"uk-foreign-affairs-committee-brands-libyan-central-bank-governor-financier-of-militias-gangsters-the-north-africa-post","status":"publish","type":"post","link":"https:\/\/www.africannewspaper.net\/2022\/08\/10\/uk-foreign-affairs-committee-brands-libyan-central-bank-governor-financier-of-militias-gangsters-the-north-africa-post\/","title":{"rendered":"UK Foreign Affairs Committee brands Libyan Central Bank Governor financier of militias, gangsters \u2013 The North Africa Post"},"content":{"rendered":"\n<div>\n<p>The UK Foreign Affairs Committee has labelled Saddek Elkaber, the Governor of the Central Bank of Libya (CBL) \u201cwell-known financier of militias and gangsters\u201d who runs a \u201ctroubled organization.\u201d<\/p>\n<p>The committee\u2019s bashing of the Libyan official comes after a meeting between Elkaber and Governor of Bank of England Andrew Bailey in July, Libya Update reports.<\/p>\n<p>Tom Tugendhat, the committee\u2019s chairman, criticized Bailey for meeting with Elkaber and accused him of \u201clending legitimacy\u201d to \u201ca well-known financier of militias and gangsters\u201d.<\/p>\n<p>\u201cBailey has met with a man who has overseen an institution beset by fraud. London has been the center for this enterprise for years,\u201d said the British MP.<\/p>\n<p>\u201cIt is clear public money flows out of Libya, into London banks, and into the hands of gangsters and militias.<\/p>\n<p>\u201cTo meet with a man like this is deeply unwise, it raises questions over the judgement of the Bank of England,\u201d he said.<\/p>\n<p>London and the CBL have been under scrutiny after a report by Global Witness highlighted the widespread use of LCs (letters of credit), which \u201cdistributes around $9 billion worth of foreign currency to businesses and public authorities every year.\u201d<\/p>\n<p>The report, the Libyan media notes, found home to dozens of Libyan banks, played a key role in the operation: \u201cGlobal Witness set out to examine the LC money trail, which stretches from the Central Bank of Libya (CBL) to Libyan-owned banks in the heart of London.\u201d<\/p>\n<p>LCs can be used to export cash and convert Libyan dinars into dollars or euros. However, LCs have been plagued with fraud and predation from armed groups.<\/p>\n<p>Elkaber backs Abdul Hamid Dbeibeh, one of Libya\u2019s current rival Prime Ministers. Numerous militia groups endorse Dbeibeh, whose administration is located in capital Tripoli.<\/p>\n<\/div>\n<p>Source: <a href=\"https:\/\/northafricapost.com\/59691-uk-foreign-affairs-committee-brands-libyan-central-bank-governor-financier-of-militias-gangsters.html\">north africa post<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK Foreign Affairs Committee has labelled Saddek Elkaber, the Governor of the Central Bank of Libya (CBL) \u201cwell-known financier of militias and gangsters\u201d who runs a \u201ctroubled organization.\u201d The committee\u2019s bashing of the Libyan official comes after a meeting between Elkaber and Governor of Bank of England Andrew Bailey in July, Libya Update reports. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK Foreign Affairs Committee brands Libyan Central Bank Governor financier of militias, gangsters \u2013 The North Africa Post - African News Paper<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africannewspaper.net\/2022\/08\/10\/uk-foreign-affairs-committee-brands-libyan-central-bank-governor-financier-of-militias-gangsters-the-north-africa-post\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Foreign Affairs Committee brands Libyan Central Bank Governor financier of militias, gangsters \u2013 The North Africa Post - African News Paper\" \/>\n<meta property=\"og:description\" content=\"The UK Foreign Affairs Committee has labelled Saddek Elkaber, the Governor of the Central Bank of Libya (CBL) \u201cwell-known financier of militias and gangsters\u201d who runs a \u201ctroubled organization.\u201d The committee\u2019s bashing of the Libyan official comes after a meeting between Elkaber and Governor of Bank of England Andrew Bailey in July, Libya Update reports. 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