4 foreign banks cut ties with Banque du Liban as Riad Salamé tries to defend himself against accusations (Al Akhbar)

The governor of the Bank of Lebanon Riad Salamé would have informed the public prosecutor, Judge Ghassan Oweidat, of the closure of the accounts of the Bank of Lebanon with foreign correspondent banks, indicates the newspaper Al Akhbar. This letter was transferred by the magistrate to the President of the Republic, General Michel Aoun, to the outgoing Prime Minister Hassan Diab and to the outgoing ministers of finance Ghazi Wazni and of Justice Marie Claude Najm.

These would include dollar accounts with Wells Fargo, sterling accounts with HSBC, Swedish krona with Danske and Canadian dollar accounts with CIBS.

According to the governor of the Banque du Liban, these decisions would be motivated by the state of default, the political campaigns targeting the Bank of Lebanon and by “the judicial outcry”, allusion to accusations of embezzlement and corruption against Riad. Salamé himself

At the same time, the correspondent banks of the local private banks increased the guarantees required to continue to open the necessary lines of credit, in particular for the importation of goods, despite the publication of BdL circular 154 which raised to 3% funds deposited by local banks in foreign currencies.

In addition, Jp Morgan would ask for an increase in the guarantees of the lines of credit necessary, among other things for the importation of fuel, but also would refuse for the time being, to grant the lines of credit necessary for the payment of the German company Combi Lift for carry out the removal of hazardous materials from the Port of Beirut.

The Lebanese daily believes, in its article, that the governor of the Banque du Liban would thus try to escape the investigations of various countries targeting him, in particular after the publication of information of a group in Great Britain accusing him of corruption and embezzlement with the complicity of his brother Raja and his right-hand man Marianne Hoayek or his responsibility in the current crisis, recalling in particular that he was at the origin of the monetary policy followed for years.