Management & Oversight
The Libyan Investment Authority is entrusted to promote national economic stability and to protect and grow the wealth of the Libyan people for future generations. This is a critical role for the future of the country and it demands that the LIA strives towards creating institutional excellence and achieving international best practices in governance and transparency.
The LIA has developed a new target organizational structure to enhance alignment to the new strategy. The new structure will also leverage a multi-location model, including a contingency office, to better meet LIA’s objectives.
LIA’S HOLDING STRUCTURE
According to the by-laws of the LIA, law 13 states that at the head of LIA’s governance structure is the Board of Trustees, comprising the Prime Minister, the Governor of the Central Bank of Libya and the Ministers of Finance, Planning and Economy, as well as two independent members with expertise in international investment.
The Board of Trustees is an oversight body acting on behalf of the government’s legislative branch. Over several years, the LIA will move from the complex holding company structure (shown below) to a simpler asset management structure.