Squandering of LYD 100 million from Sahara Bank and arrest of the bank’s senior officials over charges of involvement in the case raised controversy in the Libyan street.
On Wednesday, the Head of the Investigations Bureau at Libya’s Attorney General’s Office, Siddiq Al-Sour, issued an arrest warrant for the General Manager of Sahara Bank, Abu Bakr Al-Wadani, suspected of involvement in squandering LYD 100 million.
Investigations over two months showed that Al-Wadani and a number of the bank’s employees, including an employee who fled abroad, were involved in squandering public money.
Director of public relations office in Sahara Bank, Issam Hamza, told 218 News that Al-Sour phoned Al-Wadani on Tuesday morning and asked him to come to his office and upon his arrival he was arrested.
The case dates back to 2016, when LYD 100 million were squandered in the bank’s El-Maya branch through manipulating Sukuk issuance, according to Hamza.
Audit Bureau suspends senior bank’s officials
Earlier, the Audit Bureau issued a decree suspending the Sahara Bank’s chairperson, general manager, and director of the Branch Network Administration and his assistant, in addition to the former director of Sahara Bank’s El-Maya branch and another staff member.
The Audit Bureau explained that the decision came on the background of reports concerning the neglect and low performance of the mentioned bank officials, as well as abuse of authority, and acts that inflicted damage to public money.
A protest against arrest of bank’s manager
Special Deterrence Force raids El-Maya branch
The SDF said in a post on Facebook that it raided the bank in the morning and arrested 11 persons involved in robbery and abduction in El-Maya after exchange of fire with the armed group led by Abu Hamira Jawida, who was killed in the attack.
