Paris – Abdullah Qaderbouh, head of Libya’s Administrative Control Authority, and Jerome Jacquand, president of the French association Coficert, have signed a memorandum of understanding to boost cooperation in good governance, anti-corruption, anti-money laundering, and countering terrorism financing. The agreement also aims to develop institutional performance, build capacity, and facilitate knowledge transfer in line with international standards.
This memorandum is part of efforts by Libya’s Administrative Control Authority to strengthen oversight and governance systems. It emphasizes the importance of national institutions meeting international standards for integrity, transparency, and institutional compliance.
The agreement highlights several key areas of cooperation. These include support in developing anti-corruption and anti-bribery systems based on global standards, especially ISO 37001, which serves as an international benchmark for evaluating anti-bribery management systems. It also seeks to enhance compliance with anti-money laundering and counter-terrorism financing requirements. This will be achieved by adopting specialized international standards, such as the AML 30001 certification, which is widely recognized for demonstrating financial integrity.
The memorandum aims to help public institutions and state-owned companies obtain international accreditations and certifications. This is expected to boost their reputation and strengthen trust among international partners, investors, and stakeholders.
In terms of capacity building, both parties agreed to cooperate in organizing training programs, sharing expertise, and transferring knowledge. These initiatives are intended to develop Libyan talent and promote a culture of governance and institutional compliance in line with global practices.
Coficert, based in France, is a non-governmental international organization specializing in certifying financial and non-financial standards. Also known as the Committee for Financial Certifications, Coficert includes international experts in financial governance, social responsibility, and anti-money laundering and terrorism financing. The organization operates in more than 40 countries, including the Middle East and North Africa, in partnership with international consulting firms.
We Coficert grants several specialized international certifications, including MSI 20000, which assesses financial performance and corporate sustainability. It also evaluates and accredits institutions in governance, compliance, and the fight against fraud and money laundering to promote transparency and reduce financial and economic risks.
The memorandum is expected to open new opportunities for technical and institutional cooperation between Libya and Coficert. It will support the Administrative Control Authority’s efforts to improve governance and oversight, reinforce the principles of integrity and transparency, and promote compliance in line with national laws and international best practices. The agreement aims to help build more efficient institutions capable of advancing development and institutional reforms.