Farhat Bengdara
Encyclopedia
Farhat Omar Bengdara is a Libya
n politician
and banker who was the governor of the Central Bank of Libya
(CBL) until he defected to the anti-Gaddafi side in the course of the Libyan civil war
. He left Libya for Turkey, which had directs flights and no visa requirements, on 21 February, but was formally in office until 6 March, when the government realised he would not return.
In an interview (with the Financial Times
dated May 2011), he said that he had waited to resign from the bank until UN sanctions were formally in place, in the meantime delaying requested transfers of Libyan sovereign funds from EU and US accounts to countries likely to ignore the sanctions. He said that as a result 96% of external Libyan funds were blocked, and that the sanctions were extremely effective and were having a major impact on the regime.
He went on to describe his current role with the National Transitional Council
, essentially trying to maintain banking functions in the free zone, and fostering relationships between the NTC and other countries which will allow central banking to be resumed when the conflict is over.
On 16 July, the day after the US recognised the NTC, he gave an interview on behalf of the newly formed association of Libyan bankers, stating that they were collecting data on Libyan foreign resources, and preparing plans for submission to the NTC concerning the restructuring of the Libyan banking sector when the time was right.
Bengdara has a B.A. in Economics from Garyounis University
, Libya and a Master
in Money, Banking and Finance from Sheffield University, UK.
Earlier, he acted as Deputy Governor
of the CBL; Chairman and General Manager for the Public Furniture Company, Libya; and Deputy Chairman of Wahda Bank, Libya. Mr. Bengdara has been a Director of Arab Banking Corporation (ABC) since 2001 and has 18 years’ experience in banking and other business sectors. Deputy Chairman of ABC in Egypt (S.A.E.) and Chairman of ABC International Bank plc, in London. He is also a board member for the Libyan Investment Corporation. Furthermore, Mr. Bengdara has been board member and Vice-Chairman of UniCredit
SpA since 29 April, 2009.
Libya
Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....
n politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
and banker who was the governor of the Central Bank of Libya
Central Bank of Libya
The Central Bank of Libya is the monetary authority in Libya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in...
(CBL) until he defected to the anti-Gaddafi side in the course of the Libyan civil war
2011 Libyan civil war
The 2011 Libyan civil war was an armed conflict in the North African state of Libya, fought between forces loyal to Colonel Muammar Gaddafi and those seeking to oust his government. The war was preceded by protests in Benghazi beginning on 15 February 2011, which led to clashes with security...
. He left Libya for Turkey, which had directs flights and no visa requirements, on 21 February, but was formally in office until 6 March, when the government realised he would not return.
In an interview (with the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
dated May 2011), he said that he had waited to resign from the bank until UN sanctions were formally in place, in the meantime delaying requested transfers of Libyan sovereign funds from EU and US accounts to countries likely to ignore the sanctions. He said that as a result 96% of external Libyan funds were blocked, and that the sanctions were extremely effective and were having a major impact on the regime.
He went on to describe his current role with the National Transitional Council
National Transitional Council
The National Transitional Council of Libya , sometimes known as the Transitional National Council, the Interim National Council, or the Libyan National Council,...
, essentially trying to maintain banking functions in the free zone, and fostering relationships between the NTC and other countries which will allow central banking to be resumed when the conflict is over.
On 16 July, the day after the US recognised the NTC, he gave an interview on behalf of the newly formed association of Libyan bankers, stating that they were collecting data on Libyan foreign resources, and preparing plans for submission to the NTC concerning the restructuring of the Libyan banking sector when the time was right.
Bengdara has a B.A. in Economics from Garyounis University
Garyounis University
University of Benghazi , formerly known as the Garyounis University, is a public university in Benghazi, Libya.- History :It is the oldest and first Libyan university. It was founded on 15 December 1955 as The Libyan University...
, Libya and a Master
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in Money, Banking and Finance from Sheffield University, UK.
Earlier, he acted as Deputy Governor
Deputy Governor
A Deputy governor is a gubernatorial official who is subordinated to a governor, rather like a Lieutenant governor.-British colonial cases:In the British empire, there were such colonial offices in :...
of the CBL; Chairman and General Manager for the Public Furniture Company, Libya; and Deputy Chairman of Wahda Bank, Libya. Mr. Bengdara has been a Director of Arab Banking Corporation (ABC) since 2001 and has 18 years’ experience in banking and other business sectors. Deputy Chairman of ABC in Egypt (S.A.E.) and Chairman of ABC International Bank plc, in London. He is also a board member for the Libyan Investment Corporation. Furthermore, Mr. Bengdara has been board member and Vice-Chairman of UniCredit
UniCredit
UniCredit SpA is an Italy-based, pan-European banking organization, with aprox 40 million customers and operations in 22 countries.- Geography :...
SpA since 29 April, 2009.