Lebanon caretaker PM calls on Central Bank to hand over documents for audit

Lebanon’s caretaker Prime Minister Hassan Diab yesterday urged the Central Bank of Lebanon to hand over all documents and information requested by restructuring consultancy Alvarez & Marsal for a forensic audit, Reuters reported.

Diab said in a statement that he had instructed Finance Minister, Ghazi Wazni, to contact Banque du Liban and ask it to hand over the necessary documents, adding that it had provided the firm with only 42 per cent of the requested paperwork, citing Lebanese legislation and banking secrecy.

“Any reform not based on the forensic audit of the central bank would only be symbolic reform to cover up the continued approach that brought the country to this state,” Diab said.

“I warn against any attempt to subvert the forensic audit to prevent Lebanese from knowing the truth behind the disappearance of their savings,” he added.

Last July, the Lebanese government hired New York-based Alvarez & Marsal to conduct a forensic audit of the country’s central bank accounts to determine how large amounts of money were spent in a country plagued by corruption.

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