Scandal of Lebanese Politicians’ Transfer of Billions of Dollars abroad ‘Confuses’ Banks

Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017. (Reuters)
Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017. (Reuters)
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Scandal of Lebanese Politicians’ Transfer of Billions of Dollars abroad ‘Confuses’ Banks

Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017. (Reuters)
Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017. (Reuters)

Statements by financial expert, Dr. Marwan Iskandar, in which he revealed that Lebanese politicians transferred billions of dollars abroad, created confusion among the political, banking and even judicial circles and increased the anger of the popular uprising against Lebanon’s ruling class.

This information has caused great resentment in Lebanon, especially as it comes at a time when banks are imposing tight restrictions on depositors’ withdrawals and prohibiting them from transferring any amount in foreign currencies abroad. This has affected merchants, who have to pay for imported goods, and even citizens who need to transfer money to their children studying abroad.

In this regard, an emergency meeting of the Finance and Budget parliamentary committee was held on Thursday, in the presence of Central Bank Governor Riad Salameh, who announced after the talks that “investigations will be conducted in reports about officials and bankers making transfers abroad this year.”

“We will do whatever the law allows us to, to check all the transfers that occurred in 2019 abroad, and whether there are suspicious funds,” he vowed.

Meanwhile, a judicial source told Asharq Al-Awsat that intense investigations began on Friday by the Central Criminal Investigation Department, under the direct supervision of Beirut First Investigating Judge Ghassan Oueidat.

The source explained that the investigation “began by listening to Iskandar’s statements about the information he revealed.”

“The matter is being followed up and needs further investigations in cooperation with the Central Bank and the Banking Supervision Committee,” according to the source.

In remarks to Asharq Al-Awsat, Iskandar noted that “the amounts were transferred normally and not smuggled.”

He revealed that a Swiss official informed him that the transferred funds amounted to two billion dollars, and they belonged to nine Lebanese politicians.

“What’s dangerous is that the sums have been transferred in the last 15 days, at the height of the liquidity crisis,” Iskandar noted.

He stressed that the Swiss parliament has begun a serious investigation into this matter, and it would publish the results once it is completed.



Israeli Strikes Kill 14 in Gaza and Destroy Heavy Equipment Needed to Clear Rubble 

Palestinians inspect the site of an Israeli strike that hit machinery, in Jabaliya refugee camp in the northern Gaza Strip, April 22, 2025. (Reuters)
Palestinians inspect the site of an Israeli strike that hit machinery, in Jabaliya refugee camp in the northern Gaza Strip, April 22, 2025. (Reuters)
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Israeli Strikes Kill 14 in Gaza and Destroy Heavy Equipment Needed to Clear Rubble 

Palestinians inspect the site of an Israeli strike that hit machinery, in Jabaliya refugee camp in the northern Gaza Strip, April 22, 2025. (Reuters)
Palestinians inspect the site of an Israeli strike that hit machinery, in Jabaliya refugee camp in the northern Gaza Strip, April 22, 2025. (Reuters)

Israeli strikes on the Gaza Strip killed at least 14 Palestinians, mostly women and children, and destroyed bulldozers and other heavy equipment that had been supplied by mediators to clear rubble. A separate strike in Lebanon on Tuesday killed a member of a local group.

Israel's 18-month offensive against Hamas has destroyed vast areas of Gaza, raising fears that much of it may never be rebuilt. The territory already had a shortage of heavy equipment, which is also needed to rescue people from the rubble after Israeli strikes and to clear vital roads.

A municipality in the Jabaliya area of northern Gaza said a strike on its parking garage destroyed nine bulldozers provided by Egypt and Qatar, which helped broker the ceasefire that took hold in January. Israel ended the truce last month, renewing its bombardment and ground operations and sealing the territory's 2 million Palestinians off from all imports, including food, fuel and medical supplies.

The strikes also destroyed a water tanker and a mobile generator provided by aid groups, and a truck used to pump sewage, the Jabaliya al-Nazla municipality said.

There was no immediate comment from the Israeli military on the strikes. The military says it only targets fighters and blames civilian deaths on Hamas because the group operates in densely populated areas.

Israeli strikes kill 14, mostly children

An Israeli airstrike early Tuesday destroyed a multistory home in the southern city of Khan Younis, killing nine people, including four women and four children, according to Nasser Hospital, which received the bodies. The dead included a 2-year-old girl and her parents.

“They were asleep, sleeping in God’s peace. They had nothing to do with anything,” said Awad Dahliz, the slain girl's grandfather. “What is the fault of this innocent child?”

A separate strike in the built-up Jabaliya refugee camp killed three children and their parents, according to the Gaza Health Ministry's emergency service.

Israel's air and ground war has killed over 51,000 Palestinians, mostly women and children, according to the ministry, which does not say how many of the dead were civilians or combatants. Israel says it has killed around 20,000 fighters, without providing evidence.

The war began when Hamas-led gunmen attacked southern Israel on Oct. 7, 2023, killing some 1,200 people, mostly civilians, and taking 251 people hostage. They are still holding 59 hostages, 24 of whom are believed to be alive, after most of the rest were released in ceasefire agreements or other deals.

Hamas has said it will only free the remaining hostages in return for the release of Palestinian prisoners, a full Israeli withdrawal and a lasting ceasefire. Israel has said it will keep fighting until the hostages are returned and Hamas has been either destroyed or disarmed and sent into exile. It has pledged to hold onto so-called security zones in Gaza indefinitely.