The frontispiece of the Banque du Liban. (Credit: João Sousa/L'Orient-Le Jour)
The contract announced last July between the Banque du Liban (BDL) and the U.S. firm K2 Integrity is now at the heart of a new political and judicial standoff. On Sept. 2, financial crime and corruption expert Nathalie Rita Sabbagh submitted a report to the financial prosecutor’s office, requesting the annulment of the contract and the suspension of its execution on the grounds that it contravenes laws governing public procurement. "Following this referral, the prosecutor has already begun looking into the case," a judicial source told L'Orient-Le Jour. Context BDL appoints K2 Integrity to help it exit FATF's gray list The affair broke out even before the BDL officially signed the contract, when, on May 27, MP Paula Yacoubian addressed a parliamentary question to Prime Minister Nawaf Salam and Finance Minister Yassin...
The contract announced last July between the Banque du Liban (BDL) and the U.S. firm K2 Integrity is now at the heart of a new political and judicial standoff. On Sept. 2, financial crime and corruption expert Nathalie Rita Sabbagh submitted a report to the financial prosecutor’s office, requesting the annulment of the contract and the suspension of its execution on the grounds that it contravenes laws governing public procurement. "Following this referral, the prosecutor has already begun looking into the case," a judicial source told L'Orient-Le Jour. Context BDL appoints K2 Integrity to help it exit FATF's gray list The affair broke out even before the BDL officially signed the contract, when, on May 27, MP Paula Yacoubian addressed a parliamentary question to Prime Minister Nawaf Salam and Finance Minister...
