Sadiq al-Kabir, the Central Bank of Libya’s veteran governor, on Tuesday warned the crisis engulfing the North African country is “very dire” and will have a profound impact on the banking sector and national economy if no action is taken to restore the “rule of law” regarding the central bank’s operation. 

Kabir and other senior officials at the bank had to flee Libya for the Turkish city of Istanbul on Aug. 30. Kabir said at the time that he and his colleagues were fleeing to “protect our lives” after threats of attacks by armed militias.

Speaking to Al-Monitor by phone, Kabir said, “Due to the threats, my team and I were forced to flee to outside of Libya, and we are now in Istanbul. We will remain abroad until the situation is resolved and we receive guarantees of a safe return to our offices.” His location had previously not been revealed.

The central bank has been in crisis since Aug. 18, after the institution’s head of IT, Musab Msallem, “was kidnapped by an unidentified group from his house,” the bank said in a social media post at the time. Following the abduction, the bank suspended operations. Although Msallem was returned later that Sunday, US Special Envoy to Libya Richard Norland later described the kidnapping as an attempt to force Kabir to resign.