As business activity picks up after the summer, we offer a summary of some of the stories we're following at the Arab Bankers Association.
Libyan Investment Authority responds to AbdulMagid Breish interview in Arab Banker
The September 2018 edition of Arab Banker, the annual magazine of the Arab Bankers Association, contains an interview with AbdulMagid Breish, who was appointed Chairman and CEO of the Libyan Investment Authority in 2013. Mr. Breish maintains that he remains the legitimate Chairman and CEO and that subsequent decrees removing him were invalid. The Libyan Investment Authority (LIA) disputes Mr. Breish's version of events and says that the interview is 'factually wrong and highly misleading.'
The LIA's advisors in London have sent us a statement in which they explain the LIA's position and we are happy to publish this. It is attached below with a three-line response from Mr. Breish. The original article in the magazine is also attached below.
We leave it to our readers to make up their own minds.
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The Directors and staff of the Arab Bankers Association send best wishes to members and their families on the occassion of Eid el-Adha. The holiday was due to begin in most countries on 12 August and will last for four days.