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Banque du Liban launches forensic audit with Alvarez & Marsal
Banque du Liban has officially launched a forensic audit mission conducted by Alvarez & Marsal. The audit follows a public tender process monitored by the Lebanese Ministries of Finance and Justice.
The investigation covers the period from October 1, 2019, to December 31, 2023. It focuses on specific operations related to the central bank's foreign assets, including commodity subsidy programs, public sector and bank transfers, and letters of credit used for fuel imports.
The primary objectives are to track the flow of funds and verify the mechanisms and procedures used in these transactions. Banque du Liban stated that the audit is part of its commitment to transparency, accountability, and the documentation of its financial rights regarding foreign currency expenditures.
Entities
Alvarez & Marsal · Banque du Liban · James Daniel · Manuel Makki · Ministry of Finance
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The audit includes operations related to foreign assets, commodity subsidy programs, and fuel import letters of credit. dailynewslb.com · almanar.com.lb
- [● 3 SOURCES] The audit covers the period from October 1, 2019, to December 31, 2023. dailynewslb.com · almanar.com.lb
- [● 3 SOURCES] The Ministry of Finance and the Ministry of Justice monitored the tender process. dailynewslb.com · almanar.com.lb
- [● 3 SOURCES] Alvarez & Marsal won the tender to conduct the forensic audit. dailynewslb.com · almanar.com.lb
- [● 3 SOURCES] The audit aims to track the path of funds and verify the procedures used in these operations. dailynewslb.com · almanar.com.lb
- [● 3 SOURCES] Banque du Liban has launched a forensic audit mission. dailynewslb.com · almanar.com.lb