When you need to know
The Libyan Audit Bureau has frozen the bank accounts of 38 companies and 62 individuals. The LAB accused them of smuggling foreign currency and counterfeiting official documents.
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The Libyan Audit Bureau has acquired more than LYD 6 billion from public departments' bank balances for the year 2015, and transferred them to the general revenue account in the Central Bank of Libya.
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"The Libyan Investment Authority's assets must remain frozen to safeguard them against the continued threat of misappropriation and corruption," Chairman and CEO of the authority said on Monday.
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The UN Sanctions Committee has decided to release the frozen assets of the Central Bank of Libya deposited in three US banks.
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The Central Bank of Libya has issued its third report for 2015 reviewing the ways through which the 2015 budget has been implemented up until the end of November.
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The widely respected non-profit the International Crisis Group (ICG) has accused groups in Tobruk of “trying to set up parallel institutions” to those based in Tripoli.
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Libya is now spending more than double its annual revenue on salaries and subsidies, the Audit Bureau warned on Friday, saying the estimated 2015 revenue is amounted to only LYD 15 billion.
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An agreement to end the sit-in protest outside Mellitah Oil and Gas Complex has been reached.
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