The Libyan Investment Authority (LIA) has signed a new cooperation agreement with ABC Bank Bahrain as part of its strategy to protect sovereign assets and enhance the performance of its investment portfolios managed through the bank’s network.
This agreement focuses on several key clauses designed to increase the efficiency of asset management, reinforce sound governance principles, and adopt international best practices in investment operations, thereby ensuring long-term growth and sustainability.
Commenting on the partnership, Ali Hassan, Chairman and CEO of the Libyan Investment Authority, affirmed that signing the agreement is a significant milestone in the implementation of UN Security Council Resolution 2769. He explained that this resolution grants the LIA the opportunity to reinvest its previously uninvested cash holdings.
Hassan also noted the LIA’s commitment to operating within the framework of Security Council resolutions and cooperating with ABC Bank Bahrain to ensure the protection of these assets and the enhancement of investment returns, ultimately serving the best interests of the Libyan people.