LIA Chairman Abdulmagid Breish reviews his new vision for Libya’s sovereign fund

By Sami Zaptia.

Tripoli, 13 May 2014:

In February 2013, the outgoing chairman of the LIA, Mohsen Derregia was removed by the then Prime Minister and head of the LIA’s Board of Trustees, Ali Zeidan, and a temporary head, Ali Hibri, the Deputy Governor of the Central Bank of Libya and LIA’s then Board member, was installed while the search begun for a long term replacement.

Today, experienced international Libyan banker, Abdulmagid Breish, is the new chairman of the LIA, inheriting an organization that has been operating under decades of dictatorship with little transparency or accountability.

The Qaddafi regime used to run the LIA