One of two men claiming the chairmanship of Libya’s $67 billion sovereign wealth fund, Hassan Bouhadi, has tendered his resignation, his spokesman said on Friday.
Libya’s political infighting made it too difficult to conduct business, Bouhadi said in his resignation letter, seen by Reuters.
In October 2014, Bouhadi was appointed head of the fund, the Libyan Investment Authority (LIA), by authorities in eastern Libya. They had moved to the east to set up a parliament and government after rival factions took control of institutions in the capital, Tripoli.
The appointment put him at odds with AbdulMagid Breish, who was appointed chairman in June 2013 before the split but stepped aside a year later, then claimed to have been reinstated following a decision by the Libyan Court of Appeal.
Breish was not immediately available for comment on Friday.
The dispute has mirrored the split nature of the government following the fall of Muammar Gaddafi in 2011.