Suspected of corruption in his country and abroad, the former governor of the Banque du Liban was arrested on September 3 in Beirut. Pressured to act by the international community and accused of protecting the country’s former treasurer, local authorities have finally let justice take its course.
“It’s a small earthquake for Lebanon,” confides an impressed French diplomat previously posted to Beirut. The former governor of the Bank of Lebanon (BDL), Riad Salamé, symbol of the economic and political decay of the country of the Cedars, was arrested on September 3 and placed in police custody. Charged with suspicion of “embezzlement of public funds” exceeding 40 million dollars, he will know in the coming hours whether the judges decide to let him go free, place him in detention or release him on bail. “We are waiting for the decision, but it is important to point out that Riad Salamé has always been at the disposal of the Lebanese justice system,” specifies Challenges one of his lawyers, Pierre-Olivier Sur. He has also honored all his legal summonses in Lebanon.
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The fact remains that this arrest has left its mark in a country where the ruling class seemed safe from any legal mishap. “Riad Salamé, the fallen king of Lebanese finance,” was the headline in the country’s French-language daily, The Orient-The Dayabout this news that has “shook the entire Lebanese system,” as a businessman living in the country confides. “There are different readings of the situation,” he continues. The first, the simplest, is that the Lebanese authorities wanted to give assurances to the international financial community that has long been pressuring Lebanon to reform (the Financial Action Task Force threatens to place the country on its gray list, Editor’s note). The second, more complicated, is that this coup may be nothing more than a damp squib allowing the Lebanese system to gain time.
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- challenges.fr
