Egypt

Libyan transitional council to renew demands for Qadhafi asset freeze

Libyan official sources said the rebel National Transitional Council (NTC) will issue another request to freeze the Egyptian assets of beleaguered Libyan leader Muammar Qadhafi and his family.

Despite submitting two memorandums to Egypt requesting the freeze, the transitional council has not received any responses from the ruling Supreme Council of the Armed Forces (SCAF) or the Foreign Ministry.

NTC spokesperson Abdel Hafiz Ghoga told Al-Masry Al-Youm that the NTC does not have an accurate picture of Qadhafi’s investments in Egypt or any other country.

“Preliminary counting of his possessions in Egypt reveals an investment project that is estimated to be LE10 million, owned by Qadhafi’s family, in addition to bank accounts for his family and the Libyan government,” Ghoga said. 

Ali al-Essawy, the vice-chairman of the NTC executive board who is in charge of the council's foreign affairs, said the council would take all necessary measures to restore Qadhafi's assets to Libya.

Tarek Amer, chairman of the Federation of Egyptian Banks and director of the National Bank of Egypt, said no instructions have been issued about freezing the assets of Qadhafi or anyone else associated with his regime. He also declined to disclose the value of assets owned by companies and businessmen close to Qadhafi.

Deputy Governor of the Central Bank of Egypt Hisham Ramez said Qadhafi's Egyptian assets have not been liquidated, but the CBE is monitoring money flow from Libya.

Translated from the Arabic Edition

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