UNSMIL held meetings to verify the preliminary results of the international financial review of the CBL

Libyan Cloud News Agency

The United Nations Support Mission I Libya (UNSMIL), together with the United Nations Office for Project Services (UNOPS) and Deloitte International, convened a series of meetings with representatives of the Presidential Council, the Attorney General’s Office and both branches of the Central Bank of Libya (CBL) to review and verify the preliminary results of the international financial review of the CBL.

Deloitte International is the firm selected to conduct the financial review process of the CBL.

UNSMIL said in a statement that the purpose of the international financial review is to restore integrity, transparency and confidence in the Libyan financial system and create the conditions for the unification of Libyan financial institutions.

Since the launch of the review process in August 2020, Deloitte gathered information from both branches of the CBL. This information was combined with additional data from other official sources which were then verified through third party confirmations with the relevant commercial banks.

The final report will be completed this month. It will include recommendations on how to improve the integrity and unity of the banking system including, in particular, practical steps to unify the central bank and enhance accountability and transparency.