The LIA and Libya’s struggle to move on – beyondbrics - Blogs - FT.com:
"News that Abdulmagid Breish has been removed from his position as chairman of the Libyan Investment Authority brings yet another tortuous diversion to the troubled institution’s management. But does it make much of a difference to the fund’s ambitions?
Breish was asked to leave his position because of an inquiry under Libya’s Political Isolation Law, a piece of legislation brought in last year that prohibits those who held high office with the Gaddafi administration from serving in senior roles in the post-revolutionary government.
Breish’s connections to the past were first published in Euromoney magazine in May. This article cited Decree 130 of 2007, a document which listed the LIA’s board of trustees at its inception in 2007 – a list that included then-prime minister Baghdadi Mahmudi (who was subsequently extradited from Tunis to Tripoli in 2012 to face trial on, among other things, misuse of public funds), the deputy prime minister, the planning minister, finance minister, central bank governor, some of Gaddafi’s bankers, Mohammad Layas – who was a CEO of the LIA under Gaddafi – and Breish himself."
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