Tag Archives | Kharafi

CBL unfreezes $100m at French Bank

By John Lee. The Central Bank of Libya (CBL) has announced that a French court has ruled in its favour in a case which would see the release of a $100-million loan owed to the bank. The assets were held by Credit Agricole, and were frozen at the request of Al-Kharafi Group, which is owned […]

Kuwaiti Group wins $930m from Libya

The largest private business in Kuwait has reportedly won $930-million in damages from Libya for former leader Muammar Gaddafi’s cancelling of the construction of a vacation resort. M. A. Kharafi and Sons (MAK Group), owned by one of Kuwait’s biggest merchant families, won the award in arbitration proceedings via the Arab League. The Kuwaiti group […]