Libya sovereign fund denies handover rumours

Libyan Investment Authority logo
Libyan Investment Authority logo

AbdulMagid Breish, the chairman of LIA Tripoli, and Fawzi Farkash, the newly-appointed Chairman of the Tobruk-based LIA has denied veracity of the reports that a steering committee has taken over responsibility for managing the LIA following a handover process.

In a joint statement, they confirmed that these reports are “completely false”:

“Reports in recent days of a handover of power to an interim steering committee are simply untrue. Reports that a steering committee has taken over responsibility for managing the LIA following a handover process are also completely false.”

“The Tripoli LIA and the Tobruk LIA are united in our condemnation of these totally unfounded stories.”

The steering committee was appointed by the Presidential Council (PC) on 15 August, but the LIA said that this appointment is illegal.

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