Libya’s eastern parliament has agreed to appoint Naji Mohamed Issa Belqasem as the new central bank governor after the former governor, Sadiq al-Kabir, was fired last month by the presidential council in the capital,

Libya’s eastern-based parliament approved a new central bank governor, ending a standoff over control of the OPEC member’s vast energy revenue and setting the stage for a full resumption of oil output.

A standoff over control of the bank had destabilized the country’s economy and raised the prospect of fresh fighting between Libya’s eastern and western factions.

Representatives of Libya's rival eastern and western legislative bodies, in‮ ‬talks facilitated by the United Nations, signed an agreement on Thursday to end a crisis over leadership of the central bank,

Libyan factions agreed to appoint a new central bank governor, paving the way for a resolution to a row that’s slashed the OPEC nation’s oil output.

Libya's eastern and western legislative bodies have signed a UN-mediated agreement to resolve the central bank leadership issue. They nominated Naji Mohamed Issa Belqasem as interim governor and Mari Muftah Rahil Barrasi as deputy governor,

Libya’s eastern-based parliament agreed on Monday to approve the nomination of Naji Mohamed Issa Belqasem as governor of the central bank, in a move that could help end a crisis which has slashed the country's oil output.