An out-of-service bank ATM on Nov. 11, 2019, in Beirut. (Credit: Patrick Baz/AFP)
The issue of funds transferred abroad on the eve of and during Lebanon’s financial crisis is set to accelerate. According to our information, the financial prosecutor’s office is due to begin questioning several banking officials as early as next week over transfers made outside Lebanon between July 1, 2019, and Dec. 1, 2023.Banque du Liban submitted an initial batch of data to Financial Prosecutor Judge Maher Sheaito last week. The preliminary list reportedly includes between 45 and 50 board members and senior executives from seven banks of varying sizes, whose names have not been disclosed. More information is expected to come out gradually, broadening the investigation to cover the banking sector as a whole. According to informed sources, between 200 and 250 people could ultimately be affected. In the news IMF calls for management...
The issue of funds transferred abroad on the eve of and during Lebanon’s financial crisis is set to accelerate. According to our information, the financial prosecutor’s office is due to begin questioning several banking officials as early as next week over transfers made outside Lebanon between July 1, 2019, and Dec. 1, 2023.Banque du Liban submitted an initial batch of data to Financial Prosecutor Judge Maher Sheaito last week. The preliminary list reportedly includes between 45 and 50 board members and senior executives from seven banks of varying sizes, whose names have not been disclosed. More information is expected to come out gradually, broadening the investigation to cover the banking sector as a whole. According to informed sources, between 200 and 250 people could ultimately be affected. In the news IMF calls for...