The Morning Call

Firm quits Le­banon bank foren­sic au­dit

- Business · Corruption · Finance · Politics · Crime · Lebanon · Beirut

BEIRUT — A New-York-based com­pany con­tracted by the Le­banese gov­ern­ment to con­duct a foren­sic au­dit of the coun­try’s cen­tral bank has de­cided to pull out of the deal be­cause it was not able to ac­quire re­quested in­for­ma­tion, Le­banon’s out­go­ing fi­nance min­is­ter said Fri­day.

The an­nounce­ment by Al­varez & Marsal deals a ma­jor blow to those hop­ing for ac­count­abil­ity in a coun­try mired in cor­rup­tion and a crip­pling eco­nomic cri­sis. It comes af­ter Le­banon’s cen­tral bank re­fused to pro­vide the com­pany with the needed doc­u­ments, us­ing the coun­try’s decades­old bank­ing se­crecy laws as a pre­text.

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