Tag Archives | Libyan Investment Authority (LIA)

EY to audit Libyan Investment Authority (LIA)

The Libyan Investment Authority (LIA) has signed a contract with global accounting firm EY [formerly known as Ernst & Young], launching the preparatory stage of a financial statements audit for the year ending 31 December 2019. According to a statement from the LIA, this is part of the LIA's commitment to enhance governance, transparency and […]

NOC acquires Yara's stake in Libyan Fertiliser Company

Norwegian fertiliser producer Yara International has entered into an agreement with Libya's National Oil Corporation (NOC) and the Libyan Investment Authority (LIA) on 31 December 2020 to divest its full ownership interest in the Libyan Norwegian Fertiliser Company (LIFECO). Yara's full legal ownership interest in LIFECO together with all economic rights and all obligations and […]

LIA says Sanctions have cost it $4.1bn

By John Lee. The Libyan Investment Authority (LIA) has said that the value of its portfolio would have been approximately $4.1 billion higher if sanctions had not been imposed and its equity assets had performed in line with the market. It says this analysis follows a recent independent report compiled by Deloitte, which assessed that […]

Compliance Risk: The Libyan Investment Authority Story

By Brian Monroe, for the Association of Certified Financial Crime Specialists. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Libya Business News. Sovereign Wealth Funds and Compliance Risk - The Libyan Investment Authority story A telling, if extreme, example of how a SWF can go from […]

NOC and LIA discuss Cooperation

By John Lee. On Sunday, December 6, 2020, the Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, met with Dr. Ali Hassan Mahmoud, Chairman of the Libyan Investment Authority (LIA), in the presence of some of the advisors, legal professionals and specialists in the relevant departments of both parties. During the meeting, several topics […]

LIA approves 3-Year Extension of Chairman's Term

The Libyan Investment Authority (LIA) has announced that its Board of Trustees has approved the term extension of current Chairman Dr Ali Mahmoud Hassan Mohamed, and the Board of Directors for a further three years. During the meeting, the Board of Trustees also agreed to increase the size of the Board of Directors from five […]

EY to audit Libyan Investment Authority (LIA)

By John Lee. The Libyan Investment Authority (LIA) has reportedly appointed EY, formerly known as Ernst & Young, as its new external auditor. According to the Sovereign Wealth Fund Institute (SWFI), EY will undertake the audit of the LIA for the financial year ending 31st December 2019. More here. (Source: SWFI)

LIA concludes First Phase of Transformation Programme

Libyan Investment Authority concludes first phase of transformation programme The Libyan Investment Authority (LIA), Africa's largest sovereign wealth fund, has announced the conclusion of the first phase of its comprehensive Transformation Programme, a major strategic mechanism for institutional development. The key milestone was marked in the presence of the International Forum of Sovereign Wealth Funds […]