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LIBYA/SWISS BANKSBack
[Published: Thursday October 09 2008]

Libya to withdrawassets from Swiss banks

Tripoli , 10 Oct-(ANA)- Libya isto pull out all its assets from Swiss banks, estimated at bn, as a diplomaticrow over the arrest of the Libyan leader's youngest son escalates .

Hannibal Gaddafi and his wifewere detained in Genevafor assault in July, but the charges were later dropped.

The state-run news agency Janaalso said that Libya washalting oil shipments to Switzerland.

An unnamed foreign ministryofficial said it was for the "poor treatment of Libyan diplomats andbusinessmen".

All kinds of economicco-operation with Switzerlandare to be stopped until Genevaclarifies its motives, Jana quotes him as saying.

According to the AssociatedPress news agency, Libyan funds have already been moved from Switzerland.

" Libya has withdrawn all its deposits from Swissbanks and transferred them to other European banks," the head of Libya's centralbank, Farhat Qadara, told the agency.

Swiss authorities have made noimmediate comment on the latest developments.(ANA)

FA/ANA/10 October 2008---


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