Washington Times: Al-Kabir is leading corruption network, funding destabilization of Libya

The Washington Times published a report, alleging that the Governor of the Central Bank of Libya, Saddik al-Kabir and his allies control a large part of the Libyan revenue.

The report indicated that corruption within the Libyan financial system remains a major stumbling block, as companies and citizens are unable to carry out basic financial transactions, and that Al-Siddiq Al-Kabir and his allies have established a network of businessmen who exploit the black market and the shadow economy to achieve illegal profits.

The report went further, as it stated that Al-Kabir and his partners together undermine Libya’s economy, and direct funds to armed formations it described as “secret”, working to create unrest in the country.

The author of the report, Daniel N. Hoffman, believes that the current government is in a position to reform the central bank, with the need to install new leadership, and focus on creating a stable and sustainable economy without the nepotism and financial crime that are prevailing today.

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