Tag Archives | Economic and Social Development Fund

Officials Dismissed, to be Investigated

According to a report from Libya Herald, the cabinet of Prime Minister Abdullah Al-Thinni has dismissed the president of the Social Development Fund, Salem Buzeid Karkub, and the fund’s Director-General, Salah Mohammed Abdulla, both of whom have been referred to the Audit Bureau for investigation. Khaled Khalifa Taher is to succeed Mr Karkub as president […]

Libya Selling Off BNP Paribas, Societe Generale

Bloomberg reports that Libya’s Economic and Social Development Fund is withdrawing investments from French banks including BNP Paribas and Societe Generale (SocGen) as it shifts attention to its home market. At a conference in Dubai today, fund chairman Mahmoud Badi said the state-held fund, which has $12 billion in assets, had about $10 billion invested […]