A smell of cigars permeates the office occupied by Riad Salamé on the top floor of the Banque du Liban (BDL), in the center of Beirut. At 71, and after almost three decades at the head of the financial institution, the former Merrill Lynch investment banker seems insensitive to the criticisms aimed at him. Once celebrated as a saviour, the governor of the BDL is now accused by many Lebanese of having precipitated the bankruptcy of the state and the collapse of the national currency, in concert with a corrupt political class. Mr. Salamé is the subject of a series of judicial investigations in Lebanon and abroad, including in France and Switzerland, in particular for suspicions of fraud, money laundering and illicit enrichment.
Civil society organizations and part of the political class are calling for it to be sidelined. “The architects of bankruptcy, in particular those responsible who are subject to legal proceedings, cannot be the architects of reform”, says Albert Kostanian, president of the pro-reform NGO Kulluna Irada. “Unfortunately no, I do not feel responsible [du naufrage libanais], retorts Mr. Salamé. Those who want to simplify things, it suits them to say that it is the fault of the BDL, but the budgets are voted by the State. When the country imports 65 billion dollars [environ 57,5 milliards d’euros] from 2017 to 2019, what is the BDL responsible for? The BDL has found the means to maintain the stability of the pound because this is what was required by the various governments. »
“There are investigations, but no trial. I am only judged and condemned by the media abroad”, accuses Riad Salamé, the governor of the Central Bank of Lebanon
The Governor of the Banque du Liban also refutes the accusations that he would hinder the forensic audit of the accounts and transactions of the BDL, entrusted to the firm Alvarez and Marsal, to determine the beneficiaries of the 68 billion dollars in losses in the sector financial. “It is not true that the BDL wants to obstruct this audit. We gave the accounts of the BDL. We asked for banking secrecy to be lifted in order to be able to give those of our customers, which Parliament did. We made everything available to the Ministry of Finance”, he assures. As for the legal proceedings against him, he invokes the presumption of innocence. “There are investigations, but no trial. I am only judged and condemned by the media abroad”, he accuses, brandishing in his defense an audit he ordered from the BDO firm, which clears him of any accusation, but is worthless in the eyes of justice.
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