The Libyan Investment Authority (LIA) remains firmly committed to its reform and development agenda, guided by a clear institutional vision to protect and maximise the value of Libya’s assets in line with the best practices of leading sovereign wealth funds.
In recent years, the LIA has achieved a series of landmark milestones. Most notably, it successfully audited its financial statements and produced consolidated financial statements under International Financial Reporting Standards (IFRS) for the first time in its history, covering all subsidiaries and portfolios. The LIA is the first Libyan institution to accomplish this achievement. In addition, it has made significant progress in implementing the Santiago Principles, with evaluations placing it ahead of several peer sovereign funds.
The LIA has also adopted governance, risk management, and investment policies aligned with international standards. It has strengthened its workforce by recruiting highly qualified young professionals, who now represent a significant share of its new staff. Furthermore, it has reached an advanced stage in deploying a comprehensive SAP system across investment, accounting, procurement, and governance.
On the legal front, the LIA has successfully safeguarded its assets, prevailing in all cases filed by international parties that sought to use its funds to settle obligations unrelated to it. This has reinforced the strength of its legal standing internationally.
In this respect, the UN Security Council resolutions issued in 2025 and 2026 reflect the growing confidence of the international community and clear institutional support for the LIA’s ability to manage its assets professionally and responsibly, in full compliance with the asset freezing measures and in the best interests of the Libyan people. In this context, the LIA clarifies that the Sanctions Committee’s positive engagement with its recent submissions is the outcome of a systematic, carefully implemented institutional strategy, rather than the outcome of ad hoc or exceptional measures.
Further to this, the LIA reaffirms its commitment to disclosure and transparency, having published its financial statements, policies, general strategy, and asset allocation on its official platforms, in recognition of the public’s right to access information and in reinforcement of the principles of disclosure and accountability.
On a related note, the LIA emphasises that it has never requested the lifting of the asset freeze. Rather, it has exclusively called for the reinvestment of frozen cash balances in accordance with international financial market standards and conditions, in a manner that preserves their value and enhances their returns- an approach supported by recent international resolutions.
Building on this, the LIA is currently taking additional steps to strengthen the protection of its assets, including engaging a reputable international firm specialising in auditing and review, with the aim of reconciling and settling a number of outstanding investments held with third parties, thereby safeguarding its rights and addressing longstanding issues.
The LIA’s reform journey continues, with its full commitment to its national responsibilities. It further stresses that any attempts to undermine or cast doubt on its work will not deter it from fulfilling its mandate of managing Libya’s assets with professionalism, efficiency, and sustainability, in a manner that serves the public interest over the medium and long term.
Libyan Investment Authority
Issued: 7 May 2026