Shares in companies quoted on major world stock markets;
Corporate and government bonds, including money market instruments;
Term deposits and cash held in the Central Bank of Libya and at several commercial banks.
The majority of our portfolio is composed of internationally held assets.
Part of the fund remains dedicated to domestic investment within Libya, to strengthen and improve the resilience of the Libyan economy. These investments are primarily in public sectors that are vital to Libya’s development, including infrastructure, education and health.
As an investment partner in Libyan companies, we seek to implement global financial best practices, and develop local talent and business activity.
A large proportion of our assets are currently frozen, in accordance with the United Nations Security Council Resolution (UNSCR) 1970 of 2011 – which aims to protect the LIA’s internationally held assets.
In order to safeguard the assets of the LIA during the popular uprising of 2011, the Libyan people requested for the imposition of sanctions by the international community. Both the UN and European Union currently apply these financial sanctions.
The sanctions initially only covered the LIA’s internationally held assets at the time. However, this was extended to apply to interest earned on the frozen funds (December 2018) and the LIA’s subsidiaries (December 2019).
The LIA respects the sanctions regime – which were intended for our protection – and we trust the discernment of the international community.
We are therefore working closely with our international partners, including the UN Sanctions Committee and Panel of Experts, to find an amenable solution.
The LIA recognises the critical need to rebuild and uphold the support, and trust, of the international community. We are committed to observing the highest standards of professionalism and disclosure, and will continue to cooperate with all relevant domestic, international and multilateral organisations in the most transparent and open manner.