Libya Central Bank has halted all operations after its IT director, Musab Msallem, was kidnapped in Tripoli. The bank condemned the abduction and announced that it would not resume operations until Msallem is released. The kidnapping was carried out by an unidentified group, and other employees have also been threatened.

The suspension comes on the heels of a recent siege by armed men who sought to pressure the bank’s governor, Seddik al-Kabir, into resigning.

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Al-Kabir has faced criticism for his handling of the country’s oil resources and state budget since his appointment in 2012.

The central bank, which is independent yet state-owned, is the sole internationally recognized repository for Libya’s oil revenues. This role is crucial given Libya’s long-standing division between rival governments in Tripoli and Benghazi.

The country’s instability has persisted since the fall of Muammar Gaddafi in 2011, with ongoing power struggles and security issues exacerbating the situation.