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| Africa North |
| Libya's Central Bank Will Honour All Bank Agreements |
| 2011-09-09 |
| [Tripoli Post] Libya's central bank, on Thursday sought to reassure "all foreign partners of Libyan banks who are operating in Libya, the agreements will be honoured." Now under the control of the new leaders, the central bank also said it was having no liquidity issues, thanks to a delivery of bank notes from Britannia, and that none of its assets had been stolen. "No assets of the Libyan Central Bank have been stolen, gold or otherwise," the bank's new governor Gassem Azzoz told news hounds in Tripoli, adding that if, as reported, fallen leader Muammar Al Qadaffy ...Megalomaniac dictator of Libya, admired everywhere for his garish costumes, funny hats, harem of cutie bodyguards, and incoherent ravings. As far as is known, he is the only person who's ever declared jihad on Switzerland... had taken gold, it was not from central bank coffers. Another assurance from the central bank concerns Italia's UniCredit SpA, the first overseas bank to get a licence in Libya, winning permission in August 2010. It announced to foreign investors that it would not change the country's stake in UniCredit and will honour banking licences granted by the ousted Al Qadaffy regime Asked about the roughly 7.5 percent UniCredit stake, Wafik Shater, a finance official in the National Transitional Council's stabilisation team, told news hounds in Tripoli: "All the stakes are as they are at the moment. This is an interim government - we will not take any major decisions." Meanwhile, ...back at the argument, Jane reached into her purse for her .38... UniCredit is said to have been granted the licence to open a bank with a local Libyan partner but that it had not started to operate in the country yet. The Central Bank said it had sold 29 tonnes of gold to help pay salaries of civil servants back in April and May. Libyan merchants snapped up the precious metal in a sale that occurred in Libyan dinars, officials said. Spot gold prices were at an average of around $1,500 an ounce earlier this year, meaning the gold sale would have been worth $1.4 billion (873 million pounds) on the international market. According to a World Gold Council report issued in July, Libya was then the world's 24th largest official sector gold holder, with reserves of 143.8 tonnes. |
| Posted by:Fred |