Abu-Ghazaleh and Chairman of Libyan Bourse Discuss Cooperation

Talks focused on strengthening cooperation between ASCA and the Libyan market in various fields

AMMAN -----June 28, 2012----HE Dr. Talal Abu-Ghazaleh, chairman of the Arab Society of Certified Accountants (ASCA) met Mr. Mohammed Fakroun, chairman of Libyan Bourse and discussed ways of cooperation in various fields.

Talks focused on strengthening cooperation between ASCA and the Libyan market in various fields.

Abu-Ghazaleh stated that ASCA is ready to provide the Libyan Bourse and other sectors with expertise and can contribute in developing the market by stressing on investment opportunities in the market.

He also stressed on the need to comply with and implement international accounting standards when preparing budgets for public and private institutions and companies which is considered one of the main conditions to enhance and secure the investors’ trust.

ASCA expressed its willingness to organize workshops and training courses to qualify bourse employees and develop their skills regarding international standards.

Abu-Ghazaleh stated that ASCA is ready to implement new programs such as the Arab Certified Management Accountant (ACMA) and CIMA Certificate in Islamic Finance.

Back in 2009, ASCA signed two cooperation agreements with each of the Libyan Stock Exchange (LSE) and the Arab Center for Human Resources Development (ARCHD) of the Arab Labor Organization, an agency of the League of Arab States, based in Tripoli.

Through these agreements, ASCA seeks to employ its technical capabilities and vast expertise for the qualification of the Libyan national professionals and capacities in order to serve the comprehensive and extensive development process in Libya.

A number of the LSE’s employees have successfully been awarded ASCA’s Arab Certified Public Accountant (ACPA) certificate. 

At the end of the meeting Mr. Fakroun presented Abu-Ghazaleh with the Libyan Bourse Shield for his effort and role in developing the Arab accounting profession.