Libyan councils agree on roadmap to end transitional phase
via Libya Herald2 min read
The heads of Libya's House of Representatives, High State Council, and Presidency Council have agreed on a document of principles for a roadmap to conclude the country's transitional phase. This agreement aims to establish a constitutional and legal framework for holding presidential and parliamentary elections, unify sovereign institutions, and strengthen national sovereignty. Key points include adherence to the Constitutional Declaration and Political Agreement, with amendments for simultaneous presidential and parliamentary elections. A supreme sovereign committee will supervise the elections, comprising the head of the High National Elections Commission, two members from the 5+5 Joint Military Committee, and two security representatives. The Bouznika Agreement will guide the appointment and reunification of sovereign positions. The agreement also rejects unfreezing frozen funds until a president is elected and opposes resettlement projects. It calls for a new legal framework for oversight of oil, gas, water, and mining sectors, affirming the National Oil Corporation's exclusive right to market oil and the Central Bank's right to collect revenues. A joint technical committee will prepare a unified constitutional budget for 2027. Presidential and parliamentary elections are scheduled to be held simultaneously no later than February 17, 2027, according to electoral laws finalized by the 6+6 committee. Additionally, Libyan foreign investments and the National Oil Corporation
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Libya Herald.
Jumhouria Bank, Libya's largest bank, announced the launch of a local currency cash withdrawal service using Visa cards. The announcement was made during the bank's participation in the Libya International Exhibition for Electronic Payments and Digital Transformation EPAIX 2026. The event was attended by the Governor of the Central Bank of Libya, the Tripoli based Libyan Prime Minister, the Minister of Economy and Trade, the Interior Minister, and other officials and stakeholders in the financial technology sector. Jumhouria Bank stated that this initiative reflects its commitment to financial sector developments, providing innovative banking services, and supporting Libya's transition to a digital economy.
Libyan Deputy Prime Minister and Head of the Southern Development and Improvement Authority, Salem Al-Zadma, met with Italian Ambassador to Libya, Gianluca Alberini, in Tripoli to discuss bilateral cooperation. The discussions focused on expanding partnerships in development and service sectors, particularly in Libya's southern regions. They reviewed projects by Italian companies and organizations in southern Libya, covering agriculture, training, and capacity building, and their contribution to local development and service improvement. Both parties also addressed strengthening development partnerships to meet the needs of the southern regions, supporting stability, enhancing border security, and combating organized crime to foster sustainable development. Al-Zadma highlighted the importance of expanding cooperation with Italy and utilizing shared expertise to support development and improve services, aiming for balanced and comprehensive development across southern Libya.
A meeting took place at the Tripoli Libyan government's Cabinet Office between the Committee Overseeing the Implementation of the 2026 Tuna Fishing Season and the Executive Secretariat of the International Commission for the Conservation of Atlantic Tunas ICCAT. The discussions centered on enhancing technical and institutional cooperation for the management and sustainability of tuna fisheries and developing Libya's tuna fishing sector in line with international standards and ICCAT regulations. Key topics included improving technical and administrative operations, raising the efficiency of fisheries management to ensure marine resource sustainability, and exploring the possibility of increasing Libya's tuna fishing quota to boost economic returns. The importance of Libya's participation in supporting scientific research conducted by ICCAT was also discussed to advance scientific knowledge and expertise exchange in tuna fisheries management. Both parties emphasized strengthening their strategic partnership to support marine resource sustainability, economic development, and food security in Libya.