In the presence of the institution’s partners, several consultants, and ambassadors from the member states of the sanctions committee, the Libyan Investment Authority held its second annual forum for 2024 on Thursday morning in the Libyan capital, Tripoli, under the title (Second Annual Forum for Reviewing Strategic Initiatives).
In a statement to our source, the Advisor to the Libyan Investment Authority, Louay Al-Griw, said that the forum discussed the strategic direction and financial performance of the authority and its group. The forum aimed to maximize the value of Libya’s sovereign wealth and contribute to the development of the national economy, while strengthening cooperation between the relevant parties and stakeholders.
Al-Griw further stated that this achievement was recorded during the forum when the authority received the financial statements for its group for 2020 from Deloitte, a global leader in auditing and accounting. This strategic step reflects the authority’s commitment to transparency and enhances its position in the sovereign investment sector.
He added that this step received praise from the Chairman and CEO of the institution, Dr. Ali Mahmoud, who appreciated the efforts of the steering committee of the institution’s group, its partners, and those who worked on completing the project according to international standards (IFRS).
Al-Griw concluded his statement by mentioning that the forum also included a presentation by PricewaterhouseCoopers on its plan to prepare the financial statements for the institution for the years (2021, 2022, 2023), adhering to best practices and international standards. Additionally, Ernst & Young presented a detailed report on their executive stance regarding the review of the financial statements for 2020, aiming to enhance the regular financial data, which will strengthen the principles of financial disclosure.
