The Head of the Administrative Control Authority, Abdullah Qaderbouh, on Tuesday discussed with the Chairman of the Board of Directors of the Libyan Investment Authority, Ali Mahmoud Hassan, and a number of officials from the portfolios and subsidiary companies, the files subject to the Authority’s supervision and follow-up.
The meeting covered financial and investment cooperation programs with international partners, the files of frozen Libyan assets and mechanisms for their management and protection, in addition to proposed measures to enhance governance and transparency within the institution.
Attendees also reviewed new agreements signed with several entities, including the agreement with Bank ABC (Bahrain), within the framework permitted by Security Council Resolution 2769 concerning the reinvestment of uninvested balances.
The meeting also addressed the institution’s future plans for managing investment portfolios and monitoring activities related to the oil sector in cooperation with the National Oil Corporation and international companies, including regulatory and supervisory aspects that ensure compliance with effective laws and decisions.
Qaderbouh stressed the importance of enhancing coordination between the entities and investment portfolios to ensure the highest levels of transparency and discipline in managing public funds and sovereign assets, emphasizing that the Authority will continue to perform its supervisory role and take necessary actions in accordance with its jurisdiction.
For his part, the Chairman of the Board of Directors of the Libyan Investment Authority reiterated his full commitment to the Authority’s directives and to providing data and reports that support its work, thereby enhancing performance efficiency and protecting the state’s interests in international agreements and investment operations.
This meeting is part of the Administrative Control Authority’s periodic follow-up on Libyan investment files, both domestically and abroad, to ensure the integrity of procedures, achieve best practices in managing sovereign assets, and protect the resources of future generations.
