Muhammad Ali Al-Huwayj is a Libya

Libya

Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....

n politician

Politician

A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...

 who served as Secretary

Secretary

A secretary, or administrative assistant, is a person whose work consists of supporting management, including executives, using a variety of project management, communication & organizational skills. These functions may be entirely carried out to assist one other employee or may be for the benefit...

 of the General People's Committee of Libya

General People's Committee of Libya

The General People's Committee , often abbreviated as the GPCO, acted as secretaries for various Libyan ministries during the era of the Libyan Arab Jamahiriya...

 for Finance

Finance

"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...

. He replaced former GPCO Minister of Finance, Dr. Ahmed Munaysi Abd-al-Hamid.

Activities

Since sanctions against Libya were eased in April 2004, Al-Huwayj has attempted to attract foreign investors and accelerate a domestic privatization campaign. For example, in 2005 Al-Huwayj argued, "with a GDP of USD $21 billion and a relatively small population of 5.8 million people, Libya is a wealthy country. Libya has no financial problems, almost no foreign debt and is the most stable country in the region."

Other activities

Before becoming a minister, Al-Huwayj was head of the Libyan Arab Foreign Investment Company (LAFICO). Al-Huwayj is also on the board of directors

Board of directors

A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...

 for the Libyan Investment Corporation (LIC), which was established in 2007 as a holding company

Holding company

A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...

 with a mandate to manage state enterprises, such as the Fund for Africa and the Economic and Social Development Fund. Abdul-Hafiz Zlitni is deputy chairman for (LIC). Other board member include Planning Secretary Taher al-Juhaymi and Farhat Bengdara

Farhat Bengdara

Farhat Omar Bengdara is a Libyan politician and banker who was the governor of the Central Bank of Libya until he defected to the anti-Gaddafi side in the course of the Libyan civil war...

, who is governor for the Central Bank of Libya

Central Bank of Libya

The Central Bank of Libya is the monetary authority in Libya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in...

. LIC's President and Chief Executive Officer

Chief executive officer

A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...

 is Muhammad Layas

Muhammad Layas

Mohammed H. Layas is a prominent Libyan politician and investment banker. He obtained a Bachelor of Arts degree in Accounting and Business Management from the University of Benghazi, Libya, and a Diploma of the Institute of Economic Development, in Washington....

 who previously chaired the Libyan Arab Foreign Bank

Libyan Arab Foreign Bank

The Libyan Arab Foreign Bank was established in 1972 in Tripoli, Libya as the country's first offshore banking institution licensed to operate internationally. The bank is 100% owned by the Central Bank of Libya...

 (LAFB).

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