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BDL Gets Deadline Extension To Submit Documents For Forensic Audit
Earlier today in a televised interview, minister of finance in caretaker government Ghazi Wazni announced a 3-month deadline extension for Lebanon’s Central Bank to provide all documents needed to perform a thorough forensic audit.
This comes after BDL refused to hand over the necessary data to Alvarez & Marsal in October, a global professional services firm notable for its work in management consulting. They cited bank secrecy laws as a justification, which legal experts found to be illegitimate.
In response, the company was reportedly studying the possibility of terminating their contract with the government, but not before getting paid $200,000 for the work they’ve done so far.
Back in July, the government hired Alvarez & Marsal to determine the whereabouts of huge sums of money that are currently unaccounted for. Doesn’t seem like we’re getting a lot of answers.
This comes after BDL refused to hand over the necessary data to Alvarez & Marsal in October, a global professional services firm notable for its work in management consulting. They cited bank secrecy laws as a justification, which legal experts found to be illegitimate.
#Lebanon‘s Central Bank refuses to provide Alvarez & Marsal with documents needed to perform forensic audit. pic.twitter.com/JUAnN8I0Jq
— Beirut.com (@BeirutCityGuide) October 27, 2020
In response, the company was reportedly studying the possibility of terminating their contract with the government, but not before getting paid $200,000 for the work they’ve done so far.
Back in July, the government hired Alvarez & Marsal to determine the whereabouts of huge sums of money that are currently unaccounted for. Doesn’t seem like we’re getting a lot of answers.
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