The Board of Directors of the Central Bank of Libya convened its first consultative meeting on 25 October 2026, chaired by Dr. Fawzi Abu Khazam, Governor of the Central Bank of Libya.

The meeting reviewed a number of matters relating to the organization of the Board’s work and the enhancement of its governance framework. Following deliberations, the Board reached the following decisions:

1. Formal Handover of the Governor’s Responsibilitie

The Board confirms the assumption of duties by Mr. D. Fawzi Boukhzam as Governor of the Central Bank of Libya, effective Thursday, 22 October 2026, in implementation of the decree of the Presidency of the House of Representatives No. (5) of 2026.

The Board expresses its full support for the continued functioning of the Central Bank and the exercise of its statutory responsibilities and powers in accordance with applicable law.

2. Reconstitution of the Monetary Policy Committee

The Board resolved to reconstitute the Monetary Policy Committee in accordance with the principles of competence and independence, ensuring the regularity of its meetings and the transparency of its decisions.

3. Revision of the Board of Directors’ Internal Regulations

The Board approved the initiation of a review and update of its internal regulations, with particular emphasis on ensuring that meetings are convened and conducted regularly in accordance with the law.

4. Formation of Committees

The Board resolved to establish the following committees:

• Governance Committee: To ensure adherence to governance frameworks, international standards, and effective oversight and supervision.
• Review and Risk Committee.
• Appointments Committee.

The Board reaffirms its commitment to the principles of sound governance and transparency, strengthening public confidence in the Central Bank and financial institutions, and supporting monetary and financial stability in Libya.