Libyan Frozen Assets Monitoring Team Holds First Meeting at Administrative Oversight Authority Headquarters

February 16, 2026
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Benghazi – February 4, 2026 – The first meeting of the joint task force was held today, Wednesday, at the headquarters of the Administrative Control Authority. The task force was formed by a decision of the Speaker of the House of Representatives and is concerned with following up on the status of frozen Libyan funds abroad and discussing a number of financial and investment files related to the state’s financial situation and Libyan investments abroad. This is within the framework of protecting sovereign wealth, enhancing compliance with relevant UN Security Council resolutions, and ensuring their management according to approved legal frameworks.

The meeting discussed the tasks of the task force formed under House of Representatives Resolution No. (113) of 2025. These tasks relate to following up on the state’s financial situation and Libyan investments abroad, verifying compliance with the provisions of Security Council resolutions, and the controls and international standards applied in managing sovereign assets.

The attendees also discussed mechanisms for monitoring the implementation of investments and ensuring compliance with legal and technical conditions. This aims to guarantee the integrity of procedures, the proper management of frozen sovereign funds abroad, and to avoid any potential risks arising from poor implementation or weak coordination between relevant entities.

It was emphasized that the current phase requires intensifying oversight and joint coordination efforts and strengthening the principles of integrity, transparency, and good governance in managing investments and sovereign wealth. This preserves the state’s rights, safeguards its funds, and enhances the confidence of international partners in Libyan oversight and judicial institutions.

The meeting concluded by stressing the importance of continuing coordination and periodic follow-up on the task force’s work, holding regular meetings, and submitting necessary reports on the results of the work. This supports the protection of public funds and enhances the management of Libyan investments in accordance with best international practices.

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Benghazi

Benghazi is a major city in eastern Libya, historically significant as a center of trade and culture since its founding as the Greek colony of Euesperides. It played a pivotal role in the 2011 Libyan Civil War as a key base for the uprising against Muammar Gaddafi.

Administrative Control Authority

The Administrative Control Authority is an Egyptian government body established in the 1960s, primarily tasked with combating corruption and ensuring integrity within state institutions. It operates as a specialized oversight agency with investigative powers to monitor administrative and financial compliance across the public sector.

House of Representatives

The House of Representatives is the lower chamber of the United States Congress, established by the Constitution in 1789. It is composed of representatives elected from congressional districts, with representation based on state population, and holds primary responsibility for initiating revenue bills and impeaching federal officials.

UN Security Council

The United Nations Security Council is the principal organ of the United Nations charged with maintaining international peace and security. Established in 1945 following World War II, its five permanent members—China, France, Russia, the United Kingdom, and the United States—hold veto power over substantive resolutions.