No Result
View All Result
Sunday, September 24, 2023
25 °c
Tripoli
24 ° Mon
24 ° Tue
24 ° Wed
25 ° Thu
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

Audit Bureau freezes all government accounts

bySami Zaptia
January 22, 2015
Reading Time: 2 mins read
A A
12
SHARES
52
VIEWS
Share on FacebookShare on Twitter

By Libya Herald staff.

Malta, 22 January 2015:

The Tripoli-based Audit Bureau issued a decision yesterday to freeze all bank accounts of all . . .[restrict]government agencies. Any balances in the accounts of government departments and agencies are to be returned to the General Public Account at the Central Bank of Libya (CBL) (account number 190031).

The reason given by the Audit Bureau is for reasons of oversight and to fight the waste of public funds.

The Audit Bureau says that this freeze applies to the disbursement of February salaries and that all government transactions must first receive its approval and government transactions will only be disbursed after all monies in accounts are returned to the General Public Account at the CBL.

RELATED POSTS

CBL publishes latest revenues and spending figures from 1 January to 31 August 2023

Bina Entrepreneurship Incubator and the Institute of Banking Studies train banking experts in finance of SMEs

This latest Audit Bureau decision comes after the Audit Bureau had announcedd that all state-sector salaries would only be disbursed in the month of February through the use of the National ID Number – in the hope of reducing the widespread problem of the duplication of salaries.

It had also announced that state-sector employees will be required to sign an undertaking to turn up to work and not skive off work during work hours.

Furthermore, the Audit Bureau decision also follows in the footsteps of its decision to suspend the further transfer of any public funds to a number of Libyan embassies.

It is not clear whether the Audit Bureau will be able to enforce this decision, even in western Libya, or whether it will need a court decision to enforce it. It will certainly not have any jurisdiction or enforceability in eastern Libya, where the only internationally recognized legislature and government are based.

On the one hand this move by the Tripoli-based Audit Bureau can be seen as an effort to have better control and oversight over public finances and as an anti-corruption effort made all the more urgent by Libya’s dire economic situation.

However, on the other, it can be seen as part of the power struggle between the two political factions of the GNC/Libya Dawn and House of Representatives (HoR)/Karama –  a power struggle that has become a struggle for access to funds.

It will be recalled that this decision has been issued by the Tripoli-based Audit Bureau that is recognized by the GNC/Libya Dawn faction, but not by the Tobruk-based HoR and its Abdullah Thinni-led government in Beida. The Beida-based government has appointed its own Audit Bureau head. [/restrict]

 
Tags: audit bureauCBL Central Bank of LibyaeconomyNational ID Number
Share5Tweet3Share1

Related Posts

Al-Ruqaii seizure violates human rights, says Amnesty International
Libya

Eastern Libya authorities must lift restrictions on journalists: Amnesty International

September 22, 2023
Providing psychosocial support to the thousands affected by Storm Daniel is a priority: UN
Libya

Providing psychosocial support to the thousands affected by Storm Daniel is a priority: UN

September 22, 2023
After the Derna dams disaster, dams in Benghazi and Sirte receive attention
Libya

After the Derna dams disaster, dams in Benghazi and Sirte receive attention

September 22, 2023
Minister of Local Government meets German and Italian ambassadors to discuss Flood Daniel aid and reconstruction
Libya

Minister of Local Government meets German and Italian ambassadors to discuss Flood Daniel aid and reconstruction

September 21, 2023
Public Service Company clears Wadi Mejeneen valley, Ministry inspects valley
Libya

Public Service Company clears Wadi Mejeneen valley, Ministry inspects valley

September 21, 2023
UN’s Derna overview: Officially, only 3,958 confirmed dead and 40,000 displaced
Libya

UN’s Derna overview: Officially, only 3,958 confirmed dead and 40,000 displaced

September 20, 2023
Next Post

UNSMIL condemns attack on Libyan Central Bank in Benghazi

Media in Libya not impartial says EU envoy

Media in Libya not impartial says EU envoy

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Derna disaster update: Five Greek aid workers die in road accident, Spanish and Maltese teams return home

    Derna disaster update: Five Greek aid workers die in road accident, Spanish and Maltese teams return home

    94 shares
    Share 38 Tweet 23
  • UN’s Derna overview: Officially, only 3,958 confirmed dead and 40,000 displaced

    63 shares
    Share 25 Tweet 16
  • Attorney General launches investigation into Derna dam failures, as aid continues to arrive by air and sea

    70 shares
    Share 29 Tweet 17
  • Latest UN satellite imagery shows extent of Storm Daniel destruction in Derna

    120 shares
    Share 49 Tweet 30
  • EU Copernicus satellite images of Flood Daniel hit Libya released

    47 shares
    Share 19 Tweet 12
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Civil Aviation Authority concludes meetings with Turkish Civil Aviation team inspecting airports for possible return of Turkish airliners

Eastern Libya authorities must lift restrictions on journalists: Amnesty International

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?