Head of the Audit Bureau calls for action to protect Libyan funds in Egypt

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Head of the Audit Bureau calls for action to protect Libyan funds in Egypt

September 23, 2019 - 11:10
Written by: SafaAlharathy

The head of the Audit Bureau, Khaled Shakshak has called on the Chairman of the Presidential Council (PC), Fayez Al-Sarraj, to take necessary measures to protect the Libyan investments in Egypt, or transfer them to other safer countries.

In a letter addressed to Al-Sarraj, Shakshak said that the Libyan funds are at risk, especially in Egypt, after Kamel Hanna, aka Gharghour, family filed a lawsuit demanding compensation for its property seized in Libya in the 70s, resulting in the withdrawal of $ 262 million from the Libyan Foreign Bank in Egypt to compensate the litigating party.

Early in the 1970s, the Libyan state confiscated properties of Gharghour family for taking illegal procedures to obtain lands in the country.