LIA assures of safety of all its Belgian-based assets

By Sami Zaptia.


Lugano, 3 April 2018:

The Libyan Investment Authority (LIA), Libya’s main sovereign wealth fund investment entity, has assured the safety of all its Belgian-based assets.

In a statement released to the (Tripoli-based) Libyan state news agency, LANA, the LIA said that all its assets based in Belgium had not been compromised by any party and that they were under the close scrutiny of its board of directors.

The LIA’s chairman, Ali Mahmoud was quoted by the Presidency Council’s Media Department as saying that the LIA had ‘‘a meeting with Belgian Ministry of Finance officials who confirmed their commitment to the UN Security Council resolution” freezing all Libyan assets abroad during the 2011 revolution.

And that ‘‘The (UNSC asset freeze) was not breached by any state and (any) financial transactions were carried out in accordance with international standards’’.

It will be recalled that Belgian based media had reported in the beginning of March that frozen LIA assets held at Euroclear Bank totalling 10 billion euros had gone missing.

The claims were subsequently denied by the Belgian government.


LIA and Belgian authorities deny loss of Belgian-based Libyan funds


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