2010
Law No. (13)
The Libyan Investment Authority is governed by Law No. (13) / 2010, which defines the purpose of the Authority, the responsibilities of the board of directors, the financing mechanism and the structure. The law also clearly defines the legal and financial independence of LIA, and sets standards for accountability.
The governance framework of the Libyan Investment Authority has been formulated to ensure that sound and effective processes are followed to achieve its organizational objectives. Its objectives and classification of roles and responsibilities of the Board of Trustees, the Board of Directors and the Executive Management Team have been detailed in Law No. (13) of 2010.
LIA is an investment Authority with a legal personality and independent financial liability. As an independent governmental Authority, it is considered separate from the government, pursuant to the law, which means that while it is accountable to the Libyan government, LIA enjoys complete operational independence.
The highest authority in LIA, namely, the Board of Trustees, undertakes the task of appointing the board of directors and supervises its performance, and ensuring that the Libyan Investment Authority is functioning on the right track to achieve its objectives. In addition, it provides guidance and general direction to it.
The Board of Directors and the Executive Management Team have full responsibility for achieving the objectives of LIA, implementing its strategy, and managing day-to-day operations.
Our Board of Trustees
The Board of Trustees of the Libyan Investment Authority is appointed by the Council of Ministers. It consists of the Prime Minister as Chairman, with the membership of the Ministers of Planning, Finance, and Economy, the Governor of the Central Bank of Libya, and a number of experts in the field of the Authority’s work.
Among the members of the Board of Trustees:
