Libya c. bank transferred millions of euros to Turkish defense company: Report

Libya central bank. (AFP)

Libya’s central bank has transferred millions of euros to a Turkish defense company, according to a new report citing leaked documents.

The documents reportedly showed that Libya's Government of National Accord’s Minister of Interior Fathi Bashagha had asked the governor of the central bank to transfer an estimated 169 million euros ($189 million) to SSTEK’s account.

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The Turkish defense company was reportedly established in 2016 and it “established modern companies or partnerships with existing companies to support military developments.”

The report also alleges that the head of the interior ministry’s financial department Colonel Mohammed Frada had instructed the head of the central bank operations to complete the transfer to the Turkish company’s account.

According to the report, BMC, which is one of the largest commercial and military vehicle manufacturers in Turkey, owns 55 percent of SSTEK’s shares.

BMC is “a joint Turkish-Qatari venture,” according to another media report. The Turkish partner, Ethem Sancak, “is a senior member of President [Erdogan’s] ruling Justice and Development Party,” and he also serves on the president’s executive board.

The company also manufactures the “Kirpi” armored vehicle “which was seen arriving in the dozens in the Libyan capital Tripoli months ago,” according to the report.

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Last Update: Monday, 22 June 2020 KSA 14:48 - GMT 11:48
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