The Libyan Investment Authority (LIA) has signed a new cooperation agreement with Bank ABC in Bahrain, marking a significant step in strengthening the partnership between Libya’s sovereign wealth fund and one of the region’s leading financial institutions.
The agreement aims to enhance the protection of LIA assets, improve portfolio performance, and support long-term investment sustainability.
In a statement published on its official page, the LIA said the agreement includes several provisions designed to reinforce governance, increase transparency, and apply global best practices in investment management. The cooperation seeks to ensure stronger risk controls, more efficient asset allocation, and better oversight of LIA holdings managed through Bank ABC’s international network.
The LIA emphasized that the agreement represents a new stage of constructive collaboration and reflects the shared commitment of both sides to protect Libyan assets and support stable, long-term financial growth. The fund noted that improving governance frameworks is essential for preserving wealth for future generations and for maintaining international confidence in Libya’s sovereign investments.
LIA Chairman and CEO Ali Mahmoud Hassan described the agreement as an important milestone in the implementation of UN Security Council Resolution 2769, which authorizes the Libyan Investment Authority to reinvest its non-invested cash balances under specific conditions. Hassan confirmed the LIA’s full commitment to operating within the framework of UN decisions and stressed that cooperation with reputable global institutions is key to safeguarding assets and enhancing financial returns for the benefit of the Libyan people.
He added that the partnership with Bank ABC Bahrain will help the LIA strengthen financial management practices, diversify investment strategies, and ensure more robust oversight mechanisms.
