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Tag: Riad Salameh

Lebanese bank held to ransom by food delivery man

2 days ago
An eight-hour hostage crisis ended Thursday evening at Federal Bank's Hamra branch as an armed depositor turned himself in to security forces after the bank agreed to pay him a part of his deposit. Around ten hostages, most of them bank employees, had been held by the man throughout the day. "Bassam you are a […]
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As financial prosecution deadlock persists, President Aoun says judiciary must be independent

2 months ago
President Michel Aoun stressed Tuesday that the judiciary “must deserve its independence” instead of “begging for it.” “Alone I have taken the oath to be loyal to the constitution and laws of the Lebanese nation, and the pillars of our constitutional system include powers’ separation, balance and cooperation, not the hegemony of an authority over […]
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Beirut attorney general won't prosecute central bank chief

2 months ago
Beirut Attorney General Judge Ziad Abu Haidar on Tuesday rejected anew to press charges against Central Bank Governor Riad Salameh as requested in a memo sent to him by State Prosecutor Ghassan Oueidat, LBCI TV reported. Abu Haidar again referred the file to the Financial Prosecution, arguing that the jurisdiction belongs to it and that […]
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Protests break out over seized money in Lebanese central bank

2 months ago
Humanitarian organizations and associations protested Thursday in front of the Central Bank, urging authorities to free their funds trapped in the banks. Social Affairs Caretaker Minister Hector Hajjar participated in the protest. "This is not a political protest," he said. He asked the Central Bank governor to facilitate the bank transfers of these associations and […]
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Lebanese rescue plan goes after central bank debt, weak banks

3 months ago
Lebanon's government foresees cancelling "a large part" of the Central Bank's foreign currency obligations to commercial banks and dissolving non-viable banks by November, according to a financial recovery plan passed by the cabinet on Friday. The document, seen by Reuters and verified as accurate by a minister, was passed by cabinet in its final session […]
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Lebanese protest bank, politics corruption with mock hybrid currency

3 months ago
Lebanese activists Friday rolled out mock banknotes featuring paintings of a gutted central bank or the Beirut port explosion to denounce high-level corruption that has helped to wreck the country. The collapse of the Lebanese pound and frozen bank accounts have left Lebanon with a confusing currency system, with a multitude of exchange rates applying […]
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UN report accuses Lebanese central bank of human rights violations

3 months ago
 Lebanon's government and its central bank have committed human rights violations by impoverishing people through the "callous destruction" of the country's economy, an independent United Nations report said on Wednesday. Lebanon's economic implosion has seen the local currency lose more than 90% of its value, food prices rise 11-fold and more than three-quarters of the […]
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EU ambassador lambasts unjust Lebanese system

3 months ago
Ambassador of the European Union to Lebanon, Ralph Tarraf, has delivered a speech marking Europe Day, in which he also tackled the situation in Lebanon. Below is the full text of the speech as received by Naharnet: “It gives me great pleasure to welcome you tonight at the occasion of Europe Day - the day […]
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Raja Salameh's property to be confiscated

4 months ago
Judge Nicolas Mansour, first investigating judge at the Mount Lebanon Court of Appeal, ordered on Thursday the seizure of all the assets of Riad Salameh's brother, Raja. The memo was sent to the ministry of finance through the public prosecution. Raja was arrested after Mount Lebanon Prosecutor Judge Ghada Aoun charged him with "facilitating money […]
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Depositors block parliament from capital control discussion

4 months ago
Depositors and activists rallied Wednesday outside Parliament to prevent MPs from attending a session on capital control held by the joint parliamentary committees. Some protestors kicked the car of Deputy Speaker Elie Ferzli and threw stones at it, media reports said. The depositors syndicate and the Mouttahidoun lawyers union considered in a joint statement that […]
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Judge Aoun to face disciplinary council

4 months ago
Head of the Judicial Inspection Authority Judge Barkan Saad has referred Mount Lebanon Prosecutor Judge Ghada Aoun to a disciplinary council. Barkan claimed that Aoun had travelled to France "without an official authorization." He also accused her of giving "offensive" testimonies against Lebanese judges. "I was surprised with the decision," Aoun said, as she added […]
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Judge Aoun eases travel ban on bank officials

4 months ago
Mount Lebanon Prosecutor Judge Ghada Aoun decided on Tuesday to lift travel bans against BLOM Bank chairman Saad al-Azhari and Bank Audi chairman Samir Hanna. The decision came after the lawyer of the two banks, Sakher al-Hashem submitted a request to lift the travel bans to Judge Aoun. Aoun had imposed travel bans on the […]
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BREAKING NEWS - Lebanese government formally declares bankruptcy

4 months ago
Deputy Prime Minister of the Lebanese Government Saadeh Al-Shami declared “the bankruptcy of the state and the Central Bank of Lebanon on Monday.” In response, Lebanon’s central bank chief Riad Salameh denied bankruptcy claims by government says bank still operational. Al-Shami claimed that “the losses will be distributed to the state, the Banque du Liban, […]
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Germany, France, Luxembourg freeze 120 million euros in Lebanese assets

5 months ago
France, Germany and Luxembourg have seized properties and frozen assets worth 120 million euros ($130 million) in a major operation linked to money laundering in Lebanon, the EU's justice agency said Monday. "Five properties in Germany and France were seized as well as several bank accounts," were frozen, the Hague-based Eurojust said in a statement. […]
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Lebanese parliament debating capital controls on banks

5 months ago
A draft Lebanese capital control law will be discussed by parliamentary committees on Monday and put to a vote on Tuesday if the text is agreed, two lawmakers said, a new bid to pass the long-delayed law amid a standoff between banks and some judges. A statement on Saturday from Deputy Prime Minister Saade Chami’s […]
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