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LARMO Calls for Eased Sanctions on Assets to Address Humanitarian Needs and Improve the Economy in Libya at the International Bar Association Event in Paris

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The Director General of the Libyan Asset Recovery and Management Office (LARMO), Mohamed Mensli, delivered a compelling address at the International Bar Association event held in Paris. Speaking during the session titled “Rule of Law Symposium: Assessing the Impact of Sanctions,” on November 3rd, Mr. Mensli acknowledged the necessity of sanctions and asset freezing in certain instances, while also highlighting the potential peril such actions pose to the general population.
“Libya’s overseas frozen assets have incurred an annual loss of well over USD one billion, significantly impacting our capacity to address critical societal needs. This staggering figure translates into the inability to recruit essential personnel such as doctors, nurses, and teachers. It impedes our efforts to subsidize pensions, curb youth unemployment, build or maintain infra structure, and reduce youth unemployment.” asserted the chairman.
Mr. Mensli urged stakeholders to rally behind LARMO’s strategy, advocating for the phased recovery of looted and neglected Libyan assets. This comprehensive approach entails the collection and responsible investment of these assets, aimed at benefiting the Libyan people in both the short and long term. The process will be meticulously supervised by both internal and external entities. He emphasized the extensive backing for this policy at both local and international levels.
The recent tragedy of severe flooding in the Derna region, alongside a multitude of enduring humanitarian challenges, underscores the pressing requirements in Libya and the need to for such process.
Addressing an audience of esteemed international judges, legal practitioners, and law professionals, Mr. Mensli stressed the injustice faced by Libyans unable to access assets rightfully belonging to them, despite enduring ongoing hardships. “In the past few years alone, we lost billions of dollars —a sum that could have tangibly improved the lives of every Libyan, particularly those in the most vulnerable conditions.”

LARMO Participates in United Nations General Assembly and Meets US Officials

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A delegation from the Libyan Asset Recovery and Management Office (LARMO), led by Director General Mr. Mohamed Mensli, recently participated in the United Nations General Assembly held in New York.

Mr. Mensli met with ambassador Jeffrey DeLaurentis- Senior Advisor for Security Council at the US mission offices in New York. The discussions revolved around the Libyan assets abroad and their crucial role in benefiting the Libyan people, especially in light of the humanitarian crisis caused by storm Daniel.

Additionally, the Director General attended a meeting at the State Department in Washington DC with Jeffrey Hulse, Director office of North Africa at the state department in Washington DC. Their conversation at the state department centred on the significance of repatriating Libyan assets to aid in the reconstruction of damaged areas, as well as the development of infrastructure to prevent future tragedies. They particularly emphasised the Libyan-owned C-130 aircrafts, currently located in Portugal and Malaysia. The meeting also highlighted the valuable efforts undertaken by LARMO in combatting money laundering and terrorist financing in the region.

LARMO Director General Meets with the Canadian Ambassador

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Mr. Mohamad Ramadan Mensli, the Director General of the Libyan Asset Recovery and Management Office (LARMO), recently conducted a meeting with Her Excellency Isabelle Savard, the Ambassador of Canada to the Libyan State.

The meeting took place in the Tunisian capital on August 9, 2023, marking the second gathering in recent weeks. During this meeting, the two parties discussed Libyan assets located in Canada, along with the most effective strategies for recovering and managing these assets for the benefit of the Libyan people.

Mr. Mensli expressed his gratitude to Ambassador Savard for her support, as well as the support provided by Canadian authorities to further LARMO’s efforts.

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LARMO’s Director General meets Maltese Foreign Minister

The Libyan Assets Recovery and Management Office (LARMO) Director General, Mr. Mohamed Mensli, held a productive meeting with the esteemed Maltese Foreign Minister, Mr. Ian Borg, who was accompanied by the Maltese Ambassador to Libya, Mr. Charles Saliba, and the chair or sanctions monitoring board Neville Aquilina.

The meeting, took place on Tuesday July 10, 2023, in Tripoli and focused on strengthening cooperation in the field of asset recovery and the ongoing efforts to repatriate funds in Malta.

During the meeting, Mr. Mensli provided an overview of LARMO’s comprehensive work in asset recovery, highlighting the significant progress made in recent years. The parties engaged in productive discussions regarding the recovery efforts pertaining to assets held in Malta and the steps taken towards securing the restitution of these funds.

Mr. Borg, the Maltese Foreign Minister, expressed his firm commitment to supporting LARMO’s efforts in recovering and managing Libyan assets. The minister recognized the importance of collaboration between the two nations and affirmed Malta’s dedication to fostering a strong partnership with LARMO.

LARMO maintains a close working relationship with the Maltese Asset Recovery Bureau, facilitating the exchange of information, expertise, and resources. This collaboration plays a vital role in advancing the recovery and management of assets, thereby contributing to the economic development and stability of Libya.

The meeting concluded with a shared commitment to continue enhancing bilateral cooperation and strengthening the joint efforts in asset recovery. LARMO expresses its gratitude to Mr. Borg and Mr. Saliba for their visit, which further solidified the strong ties between the Libyan and Maltese authorities in addressing this crucial matter.

LARMO welcomes representatives of local partners and stakeholders

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As part of its ongoing efforts to foster coordination and close collaboration with local partners, the Libyan Asset Recovery and Management Office (LARMO) held its second regular meeting with representatives of these stakeholders on July 6, 2023, at LARMO’s headquarters.
The meeting revolved around discussions on LARMO’s asset recovery operations and mechanisms for joint cooperation. Furthermore, it aimed to address legal and security challenges related to these operations and best practices to effectively manage recovered assets for the benefit of the Libyan people.
Chaired by Mr. Mohamed Jumaa, Head of the International Cooperation Unit, the meeting was attended by representatives from the Ministry of Foreign Affairs, Interpol, the Central Bank of Libya (CBL), the Anti-Corruption Commission, the National Security Council, and the Internal Security Service. Mr. Mohamed Ramadan, Director General of LARMO, emphasized the significance of coordination and close cooperation among relevant authorities in order to achieve the desired objectives.
Additionally, the participants reached a consensus to establish joint committees that will facilitate coordinated efforts among the partners. This approach will ensure effective information gathering and implementation planning.

LARMO’s director general welcomes Crisis Group’s Claudia Gazzini

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The Director General of the Libyan Asset Recovery and Management Office (LARMO), Mr. Mohamed Ramadan Mensli welcomed Ms. Claudio Gazzini from Crisis Group for a meeting in Tripoli on Sunday 25, June, 2022.

Ms. Gazzini previously served as a policy advisor to the Special Representative and Head of the UN Support Mission in Libya (UNSMIL) and now works now as a senior analyst for the International Crisis Group. The group is a non-profit non-governmental organisation with a mission to prevent wars and shape policies that promote peace. Ms. Delaney Simon, a senior analyst with the Crisis Group, accompanied her in the meeting.

During the meeting, the attendees discussed LARMO’s efforts to recover Libyan assets and how funds raised can contribute to the rebuilding of Libya and develop social and commercial projects that will contribute to peace and prosperity in the country.

LARMO calls on the international community to provide more support to asset recovery and anti-money laundering institutions during a conference in Cairo

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LARMO calls on the international community to provide more support to asset recovery and anti-money laundering institutions during a conference in Cairo

The Libyan Asset Recovery and Management Office (LARMO)’s Director General, Mr. Mohamed Ramadan Mensli, called on the international community, including MENA governments, to provide more support to asset recovery and anti-money laundering institutions. He emphasised the need for concerted efforts to stop the looting of assets that rightfully belong to the people and to ensure the investment of recovered assets to secure a brighter future for all nations.
Mr. Mensli spoke at the Arab Forum on “Promoting Transparency and Good Governance,” organised by the Arab Administrative Development Organisation in cooperation with Transparency International. The forum took place in Cairo from 12th to 14th June, under the slogan “All Partners in Fighting Corruption.”
The Director General stated, “We understand that the international community sometimes struggles to determine whom to trust and work with. However, that should not be a reason to let corrupt individuals continue plundering funds that could have been better spent on projects in the interest of local communities. We really need your support to stop these illegal financial flows and send criminals across the world a clear message that, in the long term, they will not benefit from theft.”
He added, “Stolen assets are often used to finance terrorism and criminal organisations. By removing this dirty money from the world’s financial systems, we will contribute to bringing more security and stability to the countries of the region, and thus to the world as a whole.”
Mr. Mensli also called for greater cooperation between governments and international organisations to combat money laundering and facilitate asset recovery operations, in a keynote speech delivered during a session entitled “Recovering looted assets, combating all types of organised crime and significantly reducing illegal financial flows.” He highlighted the importance of managing recovered assets to the highest standards of integrity and absolute transparency, while adopting best practices for investing them in urgent humanitarian projects as well as long-term development projects that would ensure a better future for future generations.

LARMO Calls on Regional Countries to Enhance Cooperation in Asset Recovery efforts

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The Director General of the Libyan Asset Recovery and Management Office (LARMO), Mr. Mohamed Ramadan Mensli, has called for increased cooperation and the establishment of a network among asset recovery and management offices in the MENA region. The purpose of this network would be to prosecute criminals and utilise recovered assets for the benefit of the people.
Mr. Mensli made these remarks on Tuesday, 6th June, during the 2nd Regional Conference on Judicial Cooperation in the MENA region held in Rabat, Morocco. The conference was organised by the Moroccan Ministry of Justice in partnership with the EU Global Facility on Anti-Money Laundering and Terrorist Financing, as well as the Siracusa International Institute for Criminal Justice and Human Rights. Titled “Strengthening Judicial Cooperation in the MENA Region: Integrated Approaches to the Investigation and Prosecution of Money Laundering,” the conference aimed to foster collaboration and enhance efforts in combating financial crimes.
As the first and only asset recovery and management office in the MENA region, LARMO holds a significant role. It is worth mentioning that the CARIN asset recovery network has invited LARMO to form and lead a North African sub-group of the global organisation, which will focus on regional asset recovery operations to create efficiencies.
Mr. Mensli delivered a speech during a session entitled “Recovery and Management of Proceeds of Crime: Key Concepts, Role of Asset Recovery Agencies, and Social Reuse of Confiscated Assets.” He addressed a group of representatives from regional countries and international experts who expressed their admiration for the office’s accomplishments.
He stated, “Despite being a relatively young institution, LARMO has porven the importance of having specialised entities dedicated to asset recovery and management for the benefit of the people and the state.” He emphasized the significance of utilizing looted assets for human development and their role in national reconciliation, as well as creating a prosperous future for Libya in economic and social terms, aligning with other countries in the region.
Mr. Mensli further emphasized, “I would like to stress the importance of establishing specialised offices, and I hope that we can establish a network among these offices that will ultimately benefit our people while fostering stability and prosperity within our region and the world.”
In conclusion, Mr. Mensli affirmed that LARMO is prepared to offer support and advice to any party engaged in asset recovery work within the region.

LARMO attends meeting of National Committee for Combating Money Laundering and Financing of Terrorism

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Within the framework of the Libyan Asset Recovery and Management Office (LARMO)’s strategic missions; and as part of its continuous efforts to coordinate with all local partners, Director General Mohamed Ramadan Mensli has participated in the National Committee for Combating Money Laundering and Financing of Terrorism meeting which was held on Thursday, May 18, 2023, at the Central Bank of Libya (CBL)’s headquarters in the presence of the committee members and relevant authorities.

LARMO is member of some of the most important international organizations in the field of money laundering such as the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) and the CARIN Network, which has financial and judicial information offices in more than 71 countries around the world. In addition, LARMO has recently established an anti-money laundering unit.

The committee reviewed reports and findings submitted by members and discussed ways and mechanisms for joint coordination among local partners to combat corruption and money laundering and to take advantage of LARMO’s membership in these networks given their effective role in tracking and combating money laundering.

LARMO discusses the Libyan asset recovery with the United Nations Office on Drugs and Crime

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Libyan Asset Recovery and Management Office (LARMO)’s DG Mr. Mohamed Ramadan Mensli received a delegation from the United Nations Office on Drugs and Crime (UNODC) on May 10, 2023.

 

During the meeting, the two parties discussed the joint cooperation in the recovery of looted Libyan assets abroad. Ms. Cristina Albertin, UNODC Regional Representative in the Middle East and North Africa, confirmed full support for LARMO and expressed full readiness to make further efforts to help the office by by developing the capabilities of the staff and strengthening communication with other organizations and countries for the benefit of all Libyan people.