Lebanon’s Central Bank (BDL) announced in an official statement that it remains committed to transparency and integrity within the financial sector. It is actively pursuing legal procedures in collaboration with specialized law firms across several European countries and other international jurisdictions. This effort aims to initiate judicial proceedings against any individual or entity—whether formerly responsible within BDL or connected to it directly or indirectly—suspected of involvement in embezzlement or illicit enrichment. These details were outlined in a statement released Thursday by the press office of BDL Governor Karim Souhaid.
Meanwhile, Alvarez & Marsal confirmed it has received all the necessary information from BDL to conduct the first phase of the audit mission mandated by the Ministry of Finance. BDL reiterated its full cooperation and willingness to work transparently should the Lebanese government decide to extend the scope of this audit.
On the legislative front, BDL continues to coordinate with the government and relevant parliamentary committees to review specific provisions of draft laws under discussion. The objective is to ensure compliance with existing banking legislation while safeguarding the Bank’s independence and the full integrity of its prerogatives.
Governor Souhaid also expressed satisfaction with recent meetings involving key stakeholders engaged in the economic recovery process, including depositors’ committees, the Businessmen’s Association and the Banks Association. These discussions are regarded as essential in defining the overarching principles and strategic directions BDL intends to follow to achieve sustainable financial stability.
BDL cautions against the circulation of information about alleged measures or decisions beyond the scope of officially announced policies, emphasizing that such reports are speculative and do not reflect the institution’s official position.
Finally, the Bank reiterates that it does not propose or enact laws. Under Article 70 of the Currency and Credit Law, BDL’s role is advisory to the government, in accordance with Articles 71 and 72. The enactment of laws takes place only after their adoption by Parliament.
Comments