The biggest Italian bank UniCredit resumed business relations with its Libyan shareholders after temporary confiscation of Libya assets in Italy. The Italian bank has mentioned in a statement published on Wednesday, that the Chairman of the Board of Directors, Mr. Giuseppe Vita, and the Chief Executive Officer, Mr. Federico Ghizzoni, had a meeting with the Governor of the Central Bank of Libya, Saddek Elkaber, and the head of the Libyan Investment Authority, Mr. Abdulrahman Ben Yezza. It also states that,“All parties have agreed on the idea of resuming cooperation that has been stopped the last few years.” UniCredit has acknowledged that the documents presented during the annual meeting of shareholders prove that the Central Bank of Libya with its partner Libyan Foreign Bank own 2.914% and the Libyan Investment Authority owns 1.25%. Originally, the Italian authorities confiscated the Libyan assets in 2012 worth more than1.1 billion Euros (1.25 Billion Dollars) stating that the assets are to return to Muammar Ghadaffi's family at the request of the International Criminal Court which included the UniCredit frozen shares.