Its principal shareholders are the UAE government (42.28 per cent), the Libyan Arab Foreign Bank
(42.28 per cent) and Banque Exterieure D'Algerie (15.44 per cent).
The council of the Un ended all sanctions on Libya's central bank last week, while the EU unblocked that same bank's accounts and also those of the Libyan Arab Foreign bank
four days ago, on December 21.
Summary: The European Union decided Wednesday to unfreeze all funds and assets of the Central Bank of Libya and the Libyan Arab Foreign Bank
held in the bloc.
The EU had frozen all funds and assets that the Central Bank of Libya and the Libyan Arab Foreign Bank
was holding in the bloc in March, as part of sanctions applied on Gaddafi's regime.
Elle met fin au gel des avoirs de la Corporation nationale libyenne du petrole, la Zuetina Oil Company, de meme que les restrictions visant la Banque centrale de Libye, la Libyan Arab Foreign Bank
, la Libyan Investment Authority, et la Libyan Africa Investment Portfolio.
The new resolution decided to lift asset freeze against the Libyan National Oil Corporation and Zueitina Oil Company, and ease sanctions against the Central Bank of Libya, the Libyan Arab Foreign Bank
, the Libyan Investment Authority and the Libyan Africa Investment Portfolio, Xinhua reported.
LIA's CEO was Muhammad al-Layas who previously chaired the Libyan Arab Foreign Bank
Until early 2007, the external assets used to be handled by the Libyan Arab Foreign Bank
(LAFB), the arm of the Central Bank and parent of the Libyan Foreign Investment Co.
Prior to CBU's move, Tropical Africa was jointly owned by the Libyan and Ugandan governments, with 99.7% held by the Libyan Arab Foreign Bank
and 0.3% owned by the Republic of Uganda.
It followed the Libyan Arab Foreign Bank
, established in 1972 to support overseas investment, in addition to the Libyan Arab African Investment Company for investments in the African Continent.
12/31/2006 Bahrain 39 Libyan Arab Foreign Bank
12/31/2006 Libya 40 AI-Ahli Bank of Kuwait 12/31/2006 Kuwait 41 Burgan Bank 12/31/2006 Kuwait 42 Attijariwafabank 12/31/2005 Morocco 43 Arab Petroleum Investments Corp.
The state's Libyan Arab Foreign Bank
gives these countries special credits to cover their crude oil and products purchases from NOC.