Lebanese central bank sent millions to firm linked to governor – report

CBL governor Riad Salameh

Lebanon’s central bank diverted millions of dollars of payments from commercial lenders to a company controlled by the governor’s brother, Reuters said today (February 21).

Reuters said that leaked contracts show the central bank charged commercial lenders commission fees on the purchase of government certificates of deposit. The commission was three-eighths of 1% of the transactions and ran into millions of dollars, the report said.

Such charges are often collected by central banks, but the R

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