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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Market

S.Africa vows to return Kadhafi assets to Libya

Posted on 14 June 2013

South Africa will return assets and cash stashed by the slain Libyan dictator Moamer Kadhafi in the country after reaching an agreement with Tripoli, the finance ministry said on Thursday. The assets were placed in South Africa by the Libya Investment Authority, the Libya Africa Investment Portfolio and the Libya Africa Investment Company — funds closely controlled by Kadhafi’s regime.
Part of the missing money is allegedly controlled by Kadhafi’s former chief of staff Bashir Saleh. Saleh, who headed Libya’s $40-billion sovereign wealth fund, is wanted in Libya for fraud and is the target of an Interpol arrest warrant under the alias Bashir al-Shrkawi………………………………………..Full Article: Source


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