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LIA denies submitting its management to a committee

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LIBYAPROSPECT – London

The Libyan Investment Authority (LIA) denied the news about submitting its administration to a temporary committee. The LIA confirmed that the AbdulMagid Breish is still the head of the sovereign wealth fund.

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

Breish said that submitting the LIA must be done officially and that he hasn’t surrendered to any party or committee.

He confirmed that the current administration would keep managing the LIA until it hands out the management to a legal body.

He added that he expects a Libyan court to issue a decision on the issue during next ten days.