Hommam Al Nassim 
A report by the French intelligence website “Africa Intelligence” revealed that the Central Bank of Libya is facing difficult times as a report on money laundering approaches.
The report indicated that the level of corruption in Libya remains worrying, and that the authorities’ management of cash is still not transparent.
According to the report, the opinion of the Financial Action Task Force is crucial to the Central Bank of Libya.
Al-Siddiq Al-Kabir, the governor of the bank, is counting on Libya being allowed to join the FATF alongside countries such as Palestine, Syria, Yemen and Sudan. However, Libya is currently excluded from the FATF assessment due to the current political and security situation.
The report noted that Libya had hoped for seven years to change this situation and join the Mutual Evaluation Group.
The FATF’s assessment of anti-money laundering is being closely watched by financial markets, making this issue even more important for the Central Bank of Libya, according to the report.
The International Monetary Fund has previously indicated that the level of corruption in the country remains worrying, and that the authorities’ management of cash is still not transparent.
The Fund explained that the efforts made to combat money laundering are unsatisfactory in light of the continuing political division between two competing governments in the country.
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