After His Controversial Appointment to the Libyan Foreign Bank, Darrat Buys a Luxury Villa in the US – Al Marsad

The head of the Libyan Foreign Bank (LFB)’s Management Committee, Mohamed Ali Abdullah al-Darrat, bought a luxury villa in Chicago in the US, where he is a national, 3 months after his controversial appointment to the Libyan Foreign Bank (LPF) position. His appointment to the LFB was criticised by members of the board of director of the Central Bank of Libya, and viewed by many as evidence of cronyism by the Dbaiba government. 

(LIBYA, 16 July 2021) – According to information published by the US BlockShopper website, which specializes in selling real estate and property, it shows data on the luxury villa registered in the name of Mohammed Addarat and his wife, Halema Aduib, since 5 June. It shows a clear upward change in his living situation since his controversial appointment to the Libyan Foreign Bank, as it was known widely that prior to 2011 he was only a massage expert.

Data on Darrat’s villa on BlockShopper

The villa consists of two floors and a large garage in the basement area. It totals an area of 9,353 feet, equivalent to 2,850 meters. Its price, including taxes, is half a million US dollars, at a time when Darrat’s salary in his current job could not have exceeded 9,000 LYD.

The Prime Minister of the interim Government of National Unity (GNU), Abdul Hamid Dbaiba, had appointed Darrat as head of the LFB management committee in early April this year, and also assigned Darrat as the GNU’s Special Envoy to the United States.

The appointment of Darrat at the head of the Management Committee of the LFB by a unilateral decision by the GNU and Siddik al-Kabir, raised a barrage of criticism and accusations of cronyism.

The decision of Darrat’s appointment to the LFB was rejected by 4 members of the Board of Directors of the Central Bank of Libya (CBL), who considered it an illegitimate decision because it was not approved by all the board members of the Central Board of Directors, rather taken unilaterally by Siddik al-Kabir with Dbaiba.

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It is also noteworthy that Darrat was the Secretary of the National Front Party (NFSL), then a member of the General National Congress (GNC), and thereafter a member of the High Council of State before he was dismissed, and then as an envoy for the Sarraj government, and then as head of the LFB management committee. The LFB is where all the Libyan oil revenues are deposited.