VOL. XXXVII

NO. 48

29-AUGUST-1994

Financial and Banking News

Regional Banking

US Treasury Names Arab Hellenic Bank As Designated Libyan National

The US Treasury's Office of Foreign Asset Control (OFAC) has designated ArabHellenic Bank as a "Specially Designated National" (SDN) of Libya,with the result that US nationals are now prohibited from trading ortransacting business with it or its branches and its property is blocked withinUS jurisdictions.

Libyan Arab Foreign Bank (LAFB) has a 30% stake in...