Dr. Ali Mahmoud, Chairman of the Board of Directors of the Libyan Investment Authority (LIA), held a meeting today in Paris at the headquarters of the Directorate General of the French Treasury, under the Ministry of Economy and Finance. The meeting was also attended by Mr. Mohamed Hamouda, Chargé d’Affaires at the Embassy of the State of Libya to France.

The French side was represented by Mr. Emmanuel Chay, Deputy Director responsible for sanctions and anti-money laundering, along with a team from the department responsible for monitoring sanctions files and frozen funds.

The meeting addressed arrangements for implementing United Nations Security Council resolutions related to the sanctions regime imposed on frozen Libyan assets, in a manner that would enable the LIA to reinvest frozen cash balances while they remain subject to the asset-freeze regime. The aim is to preserve the value of these assets, mitigate their erosion, and maximise their returns.

The meeting also covered the practical and technical aspects related to the LIA’s assets and investments in France, where it manages an investment portfolio valued at more than US$1 billion, comprising deposits, financial investments, and real estate assets.

This meeting forms part of the LIA’s ongoing efforts to protect its assets, preserve their value, and strengthen their management in accordance with the relevant international legal frameworks, in coordination with the competent authorities in the countries where the LIA’s assets are located.