One of the secondary entrances of the Banque du Liban (BDL), Hamra district, Beirut. (Credit: P.H.B.)
The United States is putting pressure on the Lebanese government regarding the selection of the next governor of the Banque du Liban (BDL), five sources familiar with the matter told Reuters on Sunday.
The position, held on an interim basis for a year and a half by Wassim Manssouri, has been at the center of intense negotiations since the removal of Riad Salameh in July 2023. Salameh was jailed last September on suspicion of corruption and financial misconduct in the so-called “Optimum Invest” case. The former BDL governor is reportedly receiving treatment at Bhannes Hospital.
Washington’s involvement in selecting this key role in Lebanon’s monetary policy aims to "limit corruption and the illicit financing of Hezbollah through the country’s banking system," one of the sources told the British news agency.
According to three anonymous Lebanese sources, a Western diplomat, and a former Trump administration official, Washington is reviewing several potential candidates. These sources indicate that U.S. officials have met with applicants in Washington and at the U.S. Embassy in Beirut. The interviews reportedly addressed the fight against Hezbollah’s financing through Lebanon’s banking system and assessed candidates' willingness to oppose the Shiite party. The process could move quickly: alongside a visit from an International Monetary Fund (IMF) delegation to Beirut this week, Lebanon’s finance minister stated that the government hopes to find a replacement by the end of March.
A list of potential successors to Riad Salameh had already been circulating in Lebanese business circles before the former BDL governor was officially dismissed. Among the names mentioned are former Labor Minister Camille Abousleiman, affiliated with the Lebanese Forces (LF), and Jihad Azour, the IMF’s Director for the Middle East and Central Asia, who was also a presidential candidate before Joseph Aoun’s election on January 9. Other names being considered for the position include Firas Abi-Nassif, an investment firm executive, as well as Philippe Jabre and Karim Souhaid, who both head asset management firms, according to Reuters.
The U.S. State Department, the White House, and the Lebanese Prime Minister’s office declined to comment on the matter, Reuters reported. Meanwhile, a spokesperson for the Lebanese presidency simply stated that the essential criterion is selecting "a qualified candidate." According to a Western diplomat and a former Trump administration official, the issue of choosing the next BDL governor was also discussed in talks between the U.S. and Saudi Arabia, though Riyadh has not responded to the matter.
'A key role in future reforms'
A former Trump administration official described these meetings as "standard diplomacy" but emphasized that Washington insists on clear criteria, including no ties to Hezbollah and no past involvement in corruption cases. "We need someone who will implement reforms and refuse to turn a blind eye to Lebanon’s usual practices," he said.
This U.S. pressure comes as Washington adopts a particularly interventionist stance toward Lebanon, especially since the Trump administration took office in January. It also reflects the White House’s ongoing strategy to weaken Hezbollah, whose influence on the Lebanese government has declined following 14 months of war with Israel.
In the past, the U.S. had already intervened in this matter by working to keep Riad Salameh in office despite Lebanon’s severe economic and financial crisis in 2019. Their stance at the time was driven by concerns that Hezbollah and its allies would take control of this strategic position. However, as legal cases against the former “finance magician” multiplied — Salameh had been at the helm of BDL since 1993 — Washington shifted its position.
The next BDL governor will play a crucial role in implementing the economic and financial reforms promised by President Joseph Aoun and Prime Minister Nawaf Salam. He will also oversee the management of international aid pledged to help Lebanon rebuild areas devastated by 14 months of war and recover from the economic collapse it has been experiencing since 2019. This crisis has led to widespread poverty, a sharp decline in the Lebanese pound’s value, and a banking sector paralysis.
The Lebanese government is now attempting to restart negotiations with the IMF for an aid program, but the implementation of reforms remains a prerequisite for the financial institution. Several Western and Arab countries have also made their financial support conditional on these reforms.
In 2023, Lebanon was placed on the Financial Action Task Force’s (FATF) “gray list” due to its failure to combat money laundering and terrorist financing.
