US EditionLebanon’s Central Bank Takes Legal Action to Recover Embezzled Funds
The central bank aims to recover misused funds from officials and entities linked to offshore schemes to protect depositors and ensure liquidity, based on new evidence.
5 Articles
5 Articles
The Straits Times
InternazionaleLebanon central bank seeks to recuperate embezzled funds to bolster liquidity, governor says
BEIRUT, Jan 8 - Lebanon's central bank will seek the repayment of public funds embezzled by at least one former central bank official and by lawyers and commercial bankers, to help guarantee its liquidity, Central Bank Governor Karim Souaid said on Thursday. Read more at straitstimes.com.
Lebanon’s central bank targets offshore network tied to ex-governor Riad Salame
Lebanon’s long-troubled financial sector has entered a new and consequential phase as the country’s central bank moves to reclaim funds allegedly siphoned off during the tenure of former governor Riad Salame. In a rare and forceful public intervention, Central Bank Governor Karim Souaid announced that Banque du Liban (BDL) has filed a legal complaint against a former senior bank official and a former banker, accusing them of illicit enrichment a…
The Governor of the Bank of Lebanon, Karim Saeed, stated that the Bank had initiated legal and judicial proceedings aimed at anyone found to be involved in the embezzlement or misuse of the funds of the Bank of Lebanon, which had led to the depletion of its assets, as well as the prosecution of anyone who violated the circulars of the Central Bank. Said explained that these measures were aimed at recovering or wasting the funds that had been use…
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
