November 18, 2021
1 min read

Lebanon’s Central Bank Governor denies misusing public funds

Lebanon’s Central Bank Governor, Riad Salameh has denied media allegations that he transferred public funds to a company owned by his brother…reports Asian Lite News

Salameh said in a statement that “not a single penny” was taken from public funds to pay fees and commissions to his brother’s company Forry Associates Ltd, a firm whose transactions and investments have been the focus of media reports.

Salameh said his opponents had disseminated the false information.

Lebanon’s Central Bank Governor denies misusing public funds

He said that the source of his wealth was “clear and documented,” as he had been a successful private banker at Merrill Lynch for around 20 years with an annual income of about $2 million before he left that company in 1993, Xinhua news agency reported.

ALSO READ: UN official urges reform measures amid crisis in Lebanon

Salameh recently came under heavy criticism following the collapse of the Lebanese pound. He was accused of enriching himself and his inner circle through years of corruption.

Previous Story

Antonio reiterates call to immediately release UN staffers held in Ethiopia

Next Story

Modi cautions on cryptocurrency, says nations need to work together

Latest from Arab News

Araghchi: Hold US, Israel Accountable

The Iranian foreign minister emphasised that the UNSC should hold the “aggressors” accountable and act to prevent the recurrence of such “crimes.”…reports Asian Lite News Iranian Foreign Minister Seyed Abbas Araghchi urged

Khamenei rebukes Trump

Khamenei said Iran had triumphed over the US and downplayed the impact of the strikes on the country’s nuclear infrastructure Iran’s Supreme Leader Ayatollah Ali Khamenei has sharply rebuked President Donald Trump’s

Ronaldo stays! Al Nassr deal extended

Portuguese icon commits to Saudi side amid swirling transfer rumours and global football spotlight Cristiano Ronaldo has officially extended his stay at Saudi Arabian club Al Nassr until 2027, putting an end
Go toTop

Don't Miss

UAE launches ‘ScaleUp Export’ initiative

The UAE Ministry of Economy, in collaboration with UPS, a

UNHCR faces funding shortfall to meet needs of refugees, IDPs in Ethiopia

The UN Refugee Agency (UNHCR) said it has only received