Audit of Lebanese central bank reveals huge shortfalls

Central Bank of Lebanon
The Central Bank of Lebanon
Karan Jain (https://bit.ly/3IYY8Dm)

A long-delayed independent audit of Lebanon’s central bank has made significant allegations against the institution’s former governor.

The report by US firm Alvarez & Marsal said the central bank lost tens of billions of dollars of commercial lenders’ assets on a sovereign debt support scheme. It also said $111 million of Central Bank of Lebanon funds appeared to have been diverted to the former governor, Riad Salameh.

Alvarez & Marsal was first appointed to audit the central bank in late 2020

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.