Libya deposits in Turkey … and a strange meeting with Erdogan in Istanbul

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Source: Cairo – Ashraf Abdel Hamid

The meeting that the Libyan Central Bank Governor, the great friend of yesterday, met with Turkish President Recep Tayyip Erdogan in Istanbul, raised many questions about his motives, especially that it came after a series of meetings the governor had with Turkish financial officials during his current visit to Turkey.

In this context, the head of the liquidity crisis management committee at the Central Bank of Libya, Ramzi Al-Agha, told Al-Arabiya Net that the meeting violates the protocols and norms between the countries, as such meetings are supposed to include at least the head of the Libyan reconciliation government, Fayez al-Sarraj.

It was also considered in an interview that Erdogan is trying through this meeting to say that he can meet with any Libyan official alone, without the need for a protocol, or the presence of an official delegation.

He explained that this meeting is “strange and unrecognized, especially since Law No. 2 of 2001 on organizing political and consular work, indicates the need for communication between administrative and government units in the state in general with any external entity through the Ministry of Foreign Affairs, in accordance with the established diplomatic and consular rules It should, he added, “the governor who followed the legislative authority, the Libyan parliament, was supposed to attend the meeting with his head of state or government and in the presence of the Minister of Economy or Finance.”

Libyan Central Bank in Tripoli (France Press)
Libyan Central Bank in Tripoli (France Press)

Libya deposits in the Bank of Turkey

To that, he stressed that a major shift occurred in the management of external operations in the Bank of Libya, especially with regard to transfers and financial deposits after the Turkish interventions, where the governor of the friendly big bank changed the operations of managing the financial reserves, and created a set of time deposits with a duration of about 4 years without any A return called zero deposits, whose value reached $ 8 billion, was deposited in its entirety in the Central Bank of Turkey, confirming that these deposits, according to the agreement signed between Al-Sarraj and Erdogan, will continue In Turkish banks For 4 years, without any interest or costs for the stability of the Turkish lira, and to protect the Turkish economy.

From Europe to Turkey

He also pointed out that there are instructions to direct all financial credits to Turkish banks, and to transfer Libyan funds and deposits that were present in European banks to Turkish banks, stressing that several operations in this framework have been recently.

The return of Turkish companies

A senior Turkish official had expressed his country’s readiness to start a rapid step in the reconstruction of Libya, after meeting the President of the Presidential Council, Fayez al-Sarraj, last week with a Turkish delegation, which included Foreign Minister Mevlut Çavuşoغلlu, Minister of Finance Berat al-Bayraq, and the Turkish Ambassador to Libya Sarhan Aksan, The head of the Turkish intelligence service, Hakan Fidan, and a number of senior officials of the presidency and the Turkish government, where the two parties discussed Turkish companies return to work in Libya, And follow up the implementation of the security and military memorandum of understanding.

According to Reuters and Libyan media, the Turkish officials and the Al-Wefaq government also discussed Payments due to Turkish companies On the previous energy and construction work in Libya, they also discussed ways in which Turkey can assist in exploration and energy operations, including cooperation in every conceivable project to help in accessing resources to global markets.





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