€1.6bn in frozen Libyan funds ‘languishing’ in Irish banks
Libya has almost €60 billion-worth of assets frozen worldwide due to UN sanctions
Irish banks have been accused of badly managing €1.6 billion worth of Libyan Investment Authority funds which have been frozen in Ireland since the Libyan revolution and the toppling of Muammar al-Gaddafi’s regime in 2011.
Libya has almost €60 billion-worth of assets frozen worldwide due to UN sanctions, of which about €1.6 billion is in Irish banks. The value of the total funds is declining by about €2 billion a year due to poor...
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