Ahmed Gadalla and Libya's Shadow Banking Empire

This investigative report by The Sentry exposes the financial network of Ahmed Gadalla, a prominent financier for the Haftar family in eastern Libya. The text details how Gadalla utilized UAE-based companies and al-Masraf bank to secure $300 million in loans to fund Khalifa Haftar’s 2019 military offensive, potentially bankrolling the Wagner Group. Following the campaign’s failure, Gadalla evolved into a central economic “fixer,” allegedly facilitating arms smuggling, money laundering, and the circulation of counterfeit Russian-printed currency. Through his de facto control over major financial institutions like the Bank of Commerce and Development, he is accused of orchestrating large-scale fraud while operating under the protection of Saddam Haftar. The report characterizes Gadalla as a prime example of the systemic kleptocracy and institutional weakness currently plaguing the Libyan state. Ultimately, the document calls for international sanctions against Gadalla and his business network to disrupt the cycle of corruption and state capture.