Tripoli: The Chairman of the Administrative Control Authority, Abdullah Qaderbouh, and the President of the French firm COFICERT, J©r´me Gacquin, have signed a memorandum of understanding designed to bolster cooperation in areas such as good governance, combating corruption, money laundering, and terrorist financing, as well as improving institutional performance.
According to Libyan News Agency, the memorandum outlined several pivotal areas of collaboration, including the enhancement and development of anti-corruption and bribery systems using internationally recognized standards, particularly ISO 37001. This global standard evaluates the effectiveness of anti-bribery and corruption management systems within institutions.
The agreement also focuses on improving compliance with anti-money laundering and terrorist financing regulations in alignment with Libya's international obligations. This will be achieved by employing specialized international standards and certifications, especially AML 30001, which is a globally acknowledged indicator of an institution's commitment to these areas and the promotion of financial integrity.
Another key objective of the memorandum is to aid public institutions and state-owned enterprises in obtaining specialized international accreditations and certifications, thereby elevating their global stature and boosting confidence among international partners, investors, and stakeholders.
In terms of capacity building, the agreement includes plans to implement training programs, exchange expertise, and transfer knowledge between the two parties. This initiative aims to develop national competencies and foster a culture of governance and corporate compliance in line with approved international standards.
COFICERT, based in France, is the first international body specializing in the accreditation of financial and non-financial standards. Known as the Committee for Financial Certifications, it comprises a group of international experts in financial governance, social responsibility, and combating money laundering and terrorist financing. The organization operates in over 40 countries worldwide, including the Middle East and North Africa region.