BDL Statement on Lifting Banking Secrecy on Corruption Suspects

Denying reports

Banque du Liban issued a statement on Friday denying reports that it had unilaterally lifted banking secrecy and reopened accounts belonging to individuals previously accused of corruption.

The statement clarified that the decision in question did not originate from the central bank or any of its regulatory bodies, including the Special Investigation Commission. Instead, it said the relevant judicial authorities had issued a final ruling, determining that the statute of limitations had nullified the charges brought against the individuals.

Following the court’s decision, the judiciary formally notified Banque du Liban that all legal proceedings had ended and requested the lifting of account freezes and the reinstatement of banking secrecy.

"The Central Bank complied with this binding judicial ruling, as required by law," the statement said. "Any attempt to hold the bank accountable in this matter is misplaced and misleading to public opinion."