Libyan Investment Authority
| Governmental | |
| Industry | Sovereign wealth fund |
| Founded | 2006 |
| Headquarters |
22nd Floor Tripoli Tower, Tripoli, Libya 26,St. Barbara Bastions, Valletta, Malta |
| Products | Fund management Oil and gas |
| Website | http://lia.com.mt |
22nd Floor Tripoli Tower, Tripoli, Libya
The Libyan Investment Authority (LIA) (المؤسسة الليبية للاستثمار) is a government-managed sovereign wealth fund and holding company headquartered in Tripoli, Libya. It was established in August 28, 2006, by Decree 208 of the General People's Committee of Libya (GPC), after the lifting of economic sanctions that had previously precluded foreign investment in Libya. The LIA oversees and manages investments in various areas including agriculture, real estate, infrastructure, oil and gas and in shares and bonds. It is Africa’s largest sovereign wealth fund. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds.
In 15 August 2016, the Presidential Council of the Government of National Accord (GNA) appointed an Interim Steering Committee to temporarily administer and steer the LIA. It has the privileges and terms of reference of the Board of Directors and Chairman with a view to safeguard the normal administration of the company.
The Steering Committee is chaired by Dr. Ali Mahmoud Hassan Mohamed. The other members are Eng. Abdulazeez Khaled Ali, Mr. Alhadi Najimeddin Kabar, Mr. Khaled Khalifa Hassan Altaher and Mr. Ahmed Abdullah Amar.
On 17 August 2016, the governments of France, Germany, Italy, Spain, the United Kingdom, and the United States issued a Joint Statement welcoming the appointment of the Steering Committee and underlining the GNA to “exercise sole and effective oversight” of the Libyan institutions including the LIA.
Abdulmagid Breish, former BoD Chairman, disputes Hassan Bouhadi’s authority as chairman of the Board of Directors of the LIA. In 2014, Breish stepped down, replaced in the interim by Abdulrahman Ben Yezza, a former Libyan Minister for Oil and Gas, pending an inquiry under Libya’s Political and Administrative Isolation Law (through decision No.659 of 2014), until a permanent chairman was put in place.
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