Bank of Lebanon launches forensic audit into foreign asset transfers amid post-crisis financial review

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Business Tech 26-05-2026 | 12:58

Bank of Lebanon launches forensic audit into foreign asset transfers amid post-crisis financial review

Audit to examine large-scale financial interventions and public fund transfers following Lebanon’s economic crisis period.

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Bank of Lebanon launches forensic audit into foreign asset transfers amid post-crisis financial review
Bank of Lebanon
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The Bank of Lebanon announced that it has completed the tender procedures for the financial forensic audit project related to certain transactions involving the bank’s foreign assets during the period from October 1, 2019, to December 31, 2023, in coordination with the Ministries of Finance and Justice.

 

In a statement, the bank clarified that the tender was completed in accordance with the provisions of the Public Procurement Law, and that the contract was awarded to "Alvarez & Marsal Middle East Limited" after evaluating the administrative, technical, and financial offers.

 

 

Bank of Lebanon
Bank of Lebanon

 

 

The statement indicated that the audit is part of a "joint institutional effort" to conduct a comprehensive forensic audit for the period that saw "large-scale financial interventions" by the Bank of Lebanon in support of both public and private sector entities.

 

The bank explained that the scope of the audit will include the support program approved by successive governments, funds placed at the disposal of public institutions and government bodies, as well as transfers made to commercial banks through their foreign accounts.

 

The audit also aims to verify the legality of transfers and payments, ensure that funds reached the declared beneficiary entities, and prevent the misuse of public funds or their use contrary to the announced objectives.

 

The Bank of Lebanon affirmed that the audit results will assist the Ministries of Finance and Justice in pursuing any cases of unlawful benefit from support funds, emphasizing its commitment to the principle of transparency and disclosure, and pledging to regularly update the public on the progress of the audit.

Tags
Bank of Lebanon ، forensic audit ، finance ، Ministries of Finance and Justice ، Public Procurement Law