We're hiring! Join our team! Click for more info.

Lebanon Will Remove Banking Secrecy Law

Lebanon Will Remove Banking Secrecy Law
Reuters/Mohamad Azakir

During the Monday legislative session, the Lebanese Parliament approved a law that lifts banking secrecy for public servants.

The legislation removes banking secrecy for a year in order to allow for the auditing of the country’s central bank, ministries, and other public administrations and institutions.

This comes around a month after Alvarez & Marsal, the firm that was hired to conduct a forensic audit into the accounts of the Banque du Liban (BDL), canceled its contract with the Lebanese government.

The audit was obstructed by banking secrecy laws, which the governor of the BDL, Riad Salameh, cited when he refused to provide the firm with information considered necessary for the process.


Our team works tirelessly to ensure Lebanese people have a reliable alternative to the politically-backed media outlets with their heavily-funded and dangerous propaganda machines. We've been detained, faced nonstop cyber attacks, censorship, attempted kidnapping, physical intimidation, and frivolous lawsuits draining our resources. Financial support from our readers keeps us fighting on your behalf. If you are financially able, please consider supporting The961's work. Support The961. Make a contribution now.

Lebanon Will Remove Banking Secrecy Law

Share this article with your friends!

Not now
Share via
Don\'t Miss Out!