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Financial Sanctions: Libya

Thursday, 10 January 2019

This news release is issued in respect of the asset freezing measures relating to Libya.

On 9 January 2019, a Corrigendum to Council Implementing Regulation (EU) No 2016/44 was published in the Official Journal of the European Union. 

The following entry has been corrected and is still subject to an asset freeze 

CORRECTION 

Deleted information appears in square brackers . Additional information appears in italics 

Entity 

Libyan Agricultural Bank 

a.k.a: (1) Agricultural Bank (2) Al Masraf Al Zirae (3) Al Masraf Al Zirae Agricultural Bank (4) Libyan Agricultural Bank 

Address: (1) Al Jumhouria Street, East Junzour, Al Gheran, Tripoli, Libya. (2) El Ghayran Area, Ganzor, El Sharqya, PO Box 1100, Tripoli, Libya. 

Other Information: EU listing. Not UN. Libyan subsidiary of the Central Bank of Libya. Closely associated with the former regime of Muammar Qadhafi. Email agbank@agribankly.org. SWIFT/BIC AGRULYLT (Libya). Tel [(218)2144870586] (218)214870586, (218)214870714, (218)214870745, (218)213338366, (218)213331533, (218)213333541, (218)213333544, (218)213333543, (218)213333542. Fax (218)214870747, (218)214870767, (218)214870777, (218)213330927, (218)213333545. 

Listed on: 14/04/2011 Last Updated: [04/08/2015] 10/01/2019 Group ID: 11745 

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated entity. If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must also report their findings to the  FIU. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated entity they are not required to report these details again.

Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.

Further details of the sanctions regime related to Libya and links to the UK’s Consolidated List of individuals and entities subject to other financial sanctions regimes may be found  on the Customs and Excise pages of the Isle of Man Government website. 

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