The Libyan Investment Authority (LIA) revealed the new 2020 strategy that comes in the framework of reorganizing the entity in accordance with best practice of leading sovereign wealth funds, maximizing market value, achieving its aims, clearly increasing confidence in governance as well as management to the UN Sanctions Committee.
The reform strategy included seven points. First, developing management, improving operational processes, and improving governance. Second, disclosure and transparency through reports and a comprehensive assessment of its assets. Third, auditing, checking and closing financial statements and final accounts for the previous years. Fourth, protecting the assets of the LIA. Fifth, resolving all existing and potential disputes. Sixth, improving the LIA’s compliance with the Santiago Principles. Seventh, following-up on the LIA’s frozen funds.
