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Saturday, January 1, 1994
Volume:
10
Issue:
1
36
Abstract:
On December 24, 1993, the media reported that Bahrain’s Central Bank has objected to and criticized the U.S. Government for freezing assets held by a Bahraini bank with Libyan connections. The Bahrain Monetary Agency stated that the Bahrain-based Arab Financial Services (AFS) Bank was forced to stop the sale of its U.S. dollar travellers cheques because of the freeze on the bank’s assets in the U.S. The U.S. Government froze its assets due to the allegation that AFS was owned or controlled by Libyans…[more]