Chairman of Libyan Investment Institution says success of institution can only be realized by presence of people in responsibility positions.
Pulbished on:
Tripoli, 24.08.2016(Lana) Chairman of Libyan Investment
Institution, Abdulmajeed Brish said success and progress of
institution cannot be sustained only in the presence of people in
responsibility positions who are capable of understanding and
absorbing the difficulties and complexities of managing and running
of a sovereign fund with 67 billion dollars.
he said this requires follow up of a host of legal cases that are
very complicated and the concern that the frozen money of the
institution would not fall in the hands of those who wanted to
exploit such money to finance civil war in Libya.
in a statement he said most assets of the institution totaling 67
billion dollars are frozen by virtue of UN Security Council
Resolution No 1970/2011 in order to protect it from embezzlement and
corruption.
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