Police Arrest Ex-CEO of Libyan Foreign Bank

By John Lee.

Police in Tripoli have reportedly arrested the former CEO of Libyan Foreign Bank (LFB).

An official at the Interior Ministry told Bloomberg that Mohamed bin Youssef was taken into custody on the orders of the state prosecutor, who's investigating him for allegedly "squandering funds and mismanaging the bank's assets".

The bank, which is owned by the Central Bank of Libya (CBL), provides services to facilitate international trade.

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(Source: Bloomberg)

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