Financial Attaché

Financial Attaché 

Definition of Financial Attaché 

 The Financial Attaché is an employee of the Ministry of Finance, is assigned to work at the Ministry of Foreign Affairs and is sent to work in Libya's embassies and missions abroad, provided that Financial Attaché meets all requirements and standards, in accordance with the legislation in force.

Functions:

The Financial Attaché shall exercise its powers in accordance with the provisions of the State's financial law, the budget,  accounts, and treasury regulations,   in addition to the provisions of Law No. (2) on political and consular work and its executive regulations, and all legislation related to financial work.

In particular, The Financial Attaché  participates  in the preparation of the general budget of the State through the preparation of financial estimates (expenses - income) after receipt of the annual publication of the general budget of the State, issued by the Ministry of Finance, and prepares the estimates of the expenses and revenues expected to be collected by the Embassy and forward them to the Ministry of Foreign Affairs on pre-prepared forms for this purpose.

After the completion of the preparation of the general budget of the State, the Ministry of Finance shall issue the financial authorisations to all ministries and bodies financed by the State. The Ministry of Foreign Affairs shall, in turn, transfer the vested allocations to the embassies, including budget lines and the value of the financial allocations which should not be exceeded.

The Financial Attaché shall receive the financial allocations granted to the Embassy, that shall be recorded in the Register of Financial Appropriations and shall include all the funding authorisation signed by him.

Prior to the disbursement process, all the annexes to the financial allocations must be completed, including the account lists, the treasury receipt authorisations, and minutes of the committees in the case of revenues. They must be approved by the head of the mission in accordance with allocations authorisations assigned to him by law.

The functions of the Financial Attaché in the embassy include direct supervision of the consular revenues and work on collection according to the legal receipts stipulated by law and also the process of depositing them in the bank account of the embassy and all the parties dealing with the embassy related to the financial aspects.

The Financial Attaché shall also sign the instruments and remittances with the head of the mission and complete all financial transactions with the bank in which the accounts of the embassy are registered.
In addition to supervising all assets owned by the Embassy, preparing periodic reports of the expenses incurred by the Mission and the revenues collected, preparing the final account of the Mission and forwarding it to the concerned authorities.

 

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