By Libya Herald reporter.
Tunis, 26 March 2015:
The Libyan Investment Authority (LIA) has appointed a new board of directors for its subsidiary, . . .[restrict]the Libya Africa Investment Portfolio (LAP).
The new appointment by virtue of the LIA´s board decision number 2 of 2015 dated 24 March appoints the following seven-member board of directors:
- Mr Ali M S El Hebri – Chairman.
- Mr Ahmed Abdussalam Ali Kashadah – Member / General Manager.
- Mr / Dr Salah K Ibrahim Awad – Member.
- Mr / Dr Fakher Muftah Bufranah – Member.
- Mr Abdutawab Mohamed R Abusaad – Member.
- Mr Usama A H Siala – Member.
- Mr Jamal Alfarjani Almahdawi – Member.
It will be recalled that the LIA recently held its 2015 board meeting at its Malta offices under the chairmanship of Hassan Bouhadi.
In a statement by LAP regarding its board restructuring, it stated that the restructuring of the board was aimed so as to ´ correct the path of the portfolio in accordance with its Statute and to strengthen the performance of the board by the addition of new members of the national competencies to contribute to the protection and development of the portfolio under the current circumstances.´
It also warned against any decisions made outside the recognized channels would lead to judicial proceedings and reiterated that previous judicial proceedings taking place currently in Tripoli were continuing accordingly. [/restrict]
