Banque du Liban. (Credit: L'Orient-Le Jour archives)
Banque du Liban is reopening one of the most sensitive cases of the financial crisis: In a statement published Tuesday, May 26, the central bank announced it has finalized, in coordination with the finance and justice ministries, the call for tenders for a new forensic audit covering certain operations related to its foreign assets between Oct. 1, 2019, and Dec. 31, 2023. The contract was awarded to Alvarez & Marsal, which also conducted the first audit of its kind, published in 2023.Officially, the mission aims to examine subsidy programs financed by BDL, funds made available to public institutions and transfers to commercial banks through their accounts abroad. “This audit will also allow Banque du Liban to obtain a precise, independent and verified view of the amount of funds spent over the period,” the institution said in its...
Banque du Liban is reopening one of the most sensitive cases of the financial crisis: In a statement published Tuesday, May 26, the central bank announced it has finalized, in coordination with the finance and justice ministries, the call for tenders for a new forensic audit covering certain operations related to its foreign assets between Oct. 1, 2019, and Dec. 31, 2023. The contract was awarded to Alvarez & Marsal, which also conducted the first audit of its kind, published in 2023.Officially, the mission aims to examine subsidy programs financed by BDL, funds made available to public institutions and transfers to commercial banks through their accounts abroad. “This audit will also allow Banque du Liban to obtain a precise, independent and verified view of the amount of funds spent over the period,” the institution said in...
