Opening of an investigation in France into the assets of the governor of the Central Bank of Lebanon

Riad Salamé, the governor of Banque du Liban, during a videoconference on April 29, 2020. Lebanon's Central Bank / AFP

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2 min

After Switzerland, the French National Financial Prosecutor's Office (PNF) opened a preliminary investigation for “criminal association” and “organized money laundering” against the governor of the Banque du Liban, Riad Salamé.

Considered for decades as one of the architects of Lebanon's economic miracle, the boss of the Central Bank is today one of the people most boasted by the Lebanese street. 

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With our correspondent in Beirut,

Paul Khalifeh

Much of the Lebanese population believes that Riad Salamé is responsible for the worst financial crisis in the country's history.

This results in the blocking of deposits by the banks, the two-thirds devaluation of savings and the depreciation of the Lebanese pound.

The national currency has lost 90% of its value against the dollar, causing a sharp collapse in purchasing power.

Ill-gotten goods

All these misfortunes which befall the Lebanese in less than a year are blamed on Riad Salamé, called the "guardian" of the system which brought Lebanon to its knees.

After Switzerland, the boss of the Central Bank is therefore the subject of an investigation in France for ill-gotten gains following two complaints filed by associations fighting against serious financial crime.

Two billion dollars

 "

The plaintiffs assert that "

 the total heritage of Riad Salamé in Europe today exceeds 2 billion dollars

 ", a fortune which cannot be justified by his salary.

The noose is tightening on the boss of the Central Bank in Lebanon itself, where several groups of activists and lawyers have filed complaints against him.

Despite all his setbacks, Riad Salamé continues to make the major monetary and financial choices in a country in crisis, where he still has solid support within the political class and the media.

See also: Lebanon: one of the worst economic crises since the 19th century, according to the World Bank

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  • Lebanon

  • Criminality

  • Finance

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