Lebanon to ask consultants A&M to resume central bank audit

A woman wearing a protective mask walks past Central Bank building as Lebanon extends a shutdown to curb the spread of the COVID-19 in Beirut, Lebanon, May 5, 2020. (File/Reuters)

• Parliament agreed this week to lift banking secrecy for one year, after the restructuring consultancy pulled out of the audit

BEIRUT: Lebanon’s finance minister said on Wednesday the country would contact Alvarez & Marsal to resume a forensic audit of the central bank, a key condition for foreign aid that has hit a roadblock.
Parliament agreed this week to lift banking secrecy for one year, after the restructuring consultancy pulled out of the audit, saying it had not received information it required.
“It was decided based on the law from parliament and government decisions to contact the firm A&M to resume the forensic audit,” the minister’s office cited him as saying after meeting with the president.