BDL pursues legal action over embezzlement allegations, commits to transparency

LBCI

22-05-2025

The Banque du Liban (BDL) announced it is continuing to take legal measures, in coordination with international law firms, to pursue any individuals—whether natural persons or legal entities—who held positions of responsibility within the bank or were directly or indirectly affiliated with it and are suspected of involvement in embezzlement or illicit enrichment.
BDL's statement comes amid ongoing efforts to restore institutional credibility and financial transparency. It confirmed that Alvarez & Marsal, the firm tasked with conducting a forensic audit, has received all requested information necessary to complete the first phase of its assignment, commissioned by the Finance Ministry.
The bank reiterated its readiness to cooperate fully should the Lebanese government choose to expand the firm's mandate.
On the legislative front, BDL said it is working closely with the government and parliamentary committees to review proposed legal amendments, aiming to align them with existing banking regulations while safeguarding the bank's independence and authority.
BDL governor expressed openness to engaging with stakeholders including depositors' committees, business associations, and the banking sector. He noted these discussions are focused on outlining the general principles and strategic roadmap BDL intends to follow to achieve sustainable financial balance.
The statement emphasized that any reports concerning specific policy steps or proposals beyond the outlined framework are purely speculative and do not represent the bank's official position.