Libya’s outgoing prime minister Abdul Hamid Dbeibeh, was hoping to negotiate the release of millions of Libyan assets frozen in Malta’s banks during his visit to that country in August this year. However, reports indicate that the request was denied by his Maltese counterpart Robert Abela
Libya’s outgoing prime minister Abdul Hamid Dbeibeh, was hoping to negotiate the release of millions of Libyan assets frozen in Malta’s banks during his visit to that country in August this year. However, reports indicate that the request was denied by his Maltese counterpart Robert Abela.
Citing unnamed government sources, a Maltese newspaper said Dbeibah was particularly interested in securing Libyan money once held at the now closed Satabank. However, this money, amounting to Euro 10 million has not been cleared for release. The move by Malta dashed hopes of Libya to secure the funds for its development works. The denial to release the fund was conveyed to the Libyan prime minister at a private meeting, according to sources.
Dbeibah travelled to Malta together with the Governor of the Central Bank of Libya (CBL), Saddek Elkaber recently. The Governor also held a separate meeting with his Maltese counterpart, Edward Scicluna.
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Satabank, located in the Maltese town of St Julian, is under liquidation. Its clients’ funds are being held at the Central Bank of Malta and are returned to depositors in parts. However, Libya’s share of deposits was withheld due to suspicion of impropriety. The Maltese government official told a newspaper reporter that the decision whether to release the funds or otherwise was not in the government’s hands, but a decision of the multilateral institutions.
