💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Lebanese central bank governor hands audit of his accounts to PM

Published 11/19/2021, 05:48 AM
Updated 11/19/2021, 06:51 AM
© Reuters. FILE PHOTO: Lebanon's Central Bank Governor Riad Salameh reacts after a news conference at Central Bank in Beirut, Lebanon November 11, 2019. REUTERS/Mohamed Azakir
TWTR
-

BEIRUT (Reuters) -Lebanese central bank governor Riad Salameh has handed an audit of his personal accounts to Prime Minister Najib Mikati, according to a series of tweets by the cabinet's official Twitter (NYSE:TWTR) account on Friday.

Salameh said on Wednesday that he had ordered an audit of his investments, after increased scrutiny in the media and several judicial probes.

The cabinet's tweets quoted Salameh as saying there was no relation between this move and a separate forensic audit of the central bank itself. International management consultancy Alvarez & Marsal began the audit of the bank in October, a condition for Lebanon to secure foreign aid amid its financial meltdown.

"The forensic audit is moving ahead. What I did was a personal initiative from me ... to refute all we hear and read, all the rumours," Salameh was quoted in the tweets as saying, adding that he will hand over his report to judicial authorities abroad as well.

© Reuters. FILE PHOTO: Lebanon's Central Bank Governor Riad Salameh reacts after a news conference at Central Bank in Beirut, Lebanon November 11, 2019. REUTERS/Mohamed Azakir

Salameh, governor for nearly three decades, has faced increased scrutiny of his tenure since the financial system collapsed two years ago, plunging Lebanon into what the World Bank has called one of world history's sharpest depressions.

He is being investigated by authorities in at least three European countries, including a Swiss inquiry over alleged money laundering at the central bank involving $300 million in gains by a company owned by his brother. He denies wrongdoing.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.