LIA Governance

On 15 August 2016 the Presidential Council of the Government of National Accord appointed an Interim Steering Committee for the administration of the Libyan Investment Authority. This appointment was made under decree number 115 of the Presidential Council, which is led by Fayez Serraj, recognised as the only national leader under the terms of the Libyan Political Agreement.

The LIA is a Libyan institution that has the vast majority of its assets outside Libya and is regulated and governed by international financial processes that are standard across all such financial institutions. The Steering Committee, of which Dr Ali Mahmoud Hassan is President, is recognised by the UN, the international community including the governments of the UK, US, Italy, France, Germany all of whom cited in a joint communique of 17 August 2016, that in accordance with UNSC Resolution 2259 the Government of National Accord (GNA) had sole responsibility to exercise effective oversight over Libya’s national institutions, including the LIA.