Banque du Liban Sets Conditions for Handing Over State Accounts to Auditors

The Banque du Liban confirmed that it had delivered all the required documents to the two auditing companies, 24 hours after Prime Minister Hassan Diab had warned about obstructing the financial crimes auditing of the bank’s accounts.

The bank said on Wednesday that it has completely handed over accounts belonging to the minister of finance in accordance with the rules, according to the National News Agency.

The bank indicated that this comes in response to the letter of the Minister of Finance, which included that the banking secrecy observed in Lebanese law does not apply to state accounts and the accounts of the Banque du Liban.

The bank continued: “As for the state’s accounts, the Lebanese state can request a detailed disclosure of its entire accounts and subsequently hand them over to the parties that it deems appropriate to inform them, which prevents the Banque du Liban from violating the legally binding confidentiality laws.

However, the bank regrets that some newspapers and social media platforms publish the information and data provided to Alvarez & Marsal, violating the law.

The bank also confirms that it has delivered all documents requested by the two auditing companies, adding that it has contracted with two international companies for external auditing of its accounts since 1994.

Hassan Diab warned yesterday, in a press statement, against trying to hide the criminal audit in the accounts of the Banque du Liban to prevent the truth about the disappearance of citizens' deposits, and to know the causes of the financial collapse and the deliberate manipulation of the price of the national currency.

Diab said that the Banque du Liban needs to deliver the documents and information required by the criminal audit firm, in order for this audit to begin to uncover the financial facts and the causes of this collapse.

He declared that any reform that does not stem from criminal scrutiny at the bank is a sham reform to cover the continuation of the current financial crises.