Security Council Committee on Libya Meets with Libyan Investment Authority and Its Audit Company

On 4 August 2023, the Security Council Committee established pursuant to resolution 1970 (2011) concerning Libya, met with a delegation from the Libyan Investment Authority (LIA), an entity subject to the assets-freeze measures imposed in resolutions 1970 (2011) and 1973 (2011), as modified by resolution 2009 (2011), and a representative from Ernst & Young, an audit company for the LIA through VTC [video-teleconference].  The Finance Expert of the Panel of Experts on Libya also participated virtually as an observer.

The Permanent Representative of the State of Libya, Ambassador Taher M. T. Elsonni, the Chairman of the Board of Directors and CEO of the LIA, Dr. Ali Mahmoud Hassen Mohammed, and a partner at Ernst & Young Paris office, in charge of emerging countries, provided presentations to the Committee.  The presentations were followed by an interactive discussion between Committee members and the briefers.

Committee members noted the progress made on the implementation of the LIA’s Transformation Strategy and took note of LIA’s requests in relation to the assets freeze.  They stressed the importance of guaranteeing the frozen funds for the benefit of the Libyan people.