LIA denies withdrawing 15 billion euros from its bank accounts

banking - January 14, 2022

The Libyan Investment Authority (LIA) denied Wednesday withdrawing 15 billion dollars from its bank accounts, saying it's monitoring legal procedures in Belgium and the news on the media.

LIA said it is under the law and at the service of the judiciary, denying all the news about withdrawing the assets, saying part of the judicial measures led to the moves of Belgian Prince Laurent to execute a ruling in his favor against the Ministry of Agriculture to take hold of LIA's assets.

LIA said the Security Council's sanctions committee denied the Belgian Prince his request for a license to implement the ruling and use LIA's assets at Euroclear Bank in Belgium, saying LIA is entitled to take all legal and judicial measures to defend its rights and funds.

The Belgian judiciary issued an international arrest warrant against the Chairman of the LIA, Ali Mahmoud, on charges of corruption and embezzlement regarding the lost interest on the LIA's billions at Euroclear Bank.

libyaobserver