الأخبار

LARMO adopts new tool to improve governance practices

The Libyan Asset Recovery and Management Office (LARMO) has announced the introduction of a new tool to evaluate and improve governance practices, as part of its commitment to full transparency.

The Governance Practices Assessment and Improvement Tool (GAIT) provides a practical framework for LARMO to evaluate policy and improve governance.

Through its use, the office aims to develop a set of principles that can be embedded through the policy development cycle. These principles will improve the rule of law, transparency, accountability, participation, integrity, equity, effectiveness, efficiency, and sustainability of the office.

Speaking about the adoption of GAIT, LARMO’s general director Dr. Mohamed Ramadan Mensli said: “We are excited to implement this important tool to help us improve our work. Good governance and transparency are crucial to our organisation and will help us in our
Pivotal mission in recovering and managing Libya’s assets.”

LARMO has also set up a number of governance objectives that GAIT will help to achieve. They include:

• Strengthening trust between LARMO offices and all relevant authorities at the local, regional and international levels to achieve high success rates in the recovery and management of assets.
• Implementing the principles of integrity, equity and transparency in relation to the exercise of powers, and the management of LARMO’s financial and human resources.
• Strengthening the accountability and feedback of LARMO and its staff, as well as compliance with laws and regulations.
• Ensuring the principle of equal opportunity among staff according to LARMO’s policies and procedures.
• Increasing efficiency, effectiveness and inclusivity in order to create a suitable environment to foster creativity and development.
• Increasing the level of employees’ abilities and skills and raising awareness of the importance of adhering to the principles of transparency and the risks of corruption.
• Improving the ability of LARMO to adapt to external factors that may influence its decision-making.