Offshore Companies Linked to Lebanon C.Bank Governor Have Assets Worth Nearly $100 Mln

Riad Salameh, the governor of Lebanon's central bank. (AP)
Riad Salameh, the governor of Lebanon's central bank. (AP)
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Offshore Companies Linked to Lebanon C.Bank Governor Have Assets Worth Nearly $100 Mln

Riad Salameh, the governor of Lebanon's central bank. (AP)
Riad Salameh, the governor of Lebanon's central bank. (AP)

Offshore companies linked to Lebanon’s central bank governor own assets worth nearly $100 million, a media group said in a report, as his role in Lebanon’s economic turmoil is under intense scrutiny.

The companies tied to Riad Salameh invested in real estate in Britain, Germany and Belgium over the past decade according to a report by a collective of European news outlets called the Organized Crime and Corruption Reporting Project (OCCRP), a nonprofit media organization, and its Lebanese partner, Daraj.com.

The report by the Sarajevo-based OCCRP does not allege any wrongdoing by Salameh and Reuters has not reviewed any of the documents on which the report is based.

Responding to the report, Salemeh told Reuters he had declared during a TV interview in April his net worth prior to becoming a governor in 1993 and it was $23 million dollars.

“I have shown the supporting documents as a proof. This to eliminate doubts on the origin of my net worth and that it was prior to holding office,” he said.

He said he had previously stated that he asked professionals and trustees to manage his net worth. “The origin of my net worth is clear, this is the important matter,” he said.

Salameh, previously seen as a guarantor of financial stability in the country, has become a focus of anger for street protesters since Lebanon’s financial system collapsed earlier this year under the weight of one of the world’s biggest public debt burdens.

The report into his personal wealth comes at a sensitive time as Lebanon grapples with the aftermath of an enormous chemicals explosion that devastated the capital Beirut, fueling public anger with the country’s leadership.

The OCCRP report also comes after central bank accounts seen by Reuters last month revealed that Lebanon’s central bank governor inflated the institution’s assets by over $6 billion in 2018, showing the extent of financial engineering used to help prop up the Lebanese economy.

The governor told Reuters last month that the central bank accounting was in line with policies approved by the board.

A Lebanese judge last month ordered a protective freeze on some assets held by the governor after ruling in favor of a complaint that he had allegedly undermined the financial standing of the state.

By the end of 2018, Salameh’s assets were worth more than $94 million, the report said, citing balance sheets of Luxembourg companies controlled by the governor.

Salameh said his declaration on his net worth demonstrated he was not trying to escape public scrutiny and was the proof he has “nothing to hide.”



Iran Seeks to Turn ‘New Page’ in Ties with Lebanon

 In this photo released by the Lebanese Presidency press office, Lebanese president Joseph Aoun, right, shakes hands with Iranian Foreign Minister Abbas Araqchi in Baabda, east of Beirut, Lebanon, Tuesday, June 3, 2025. (Lebanese Presidency press office via AP)
In this photo released by the Lebanese Presidency press office, Lebanese president Joseph Aoun, right, shakes hands with Iranian Foreign Minister Abbas Araqchi in Baabda, east of Beirut, Lebanon, Tuesday, June 3, 2025. (Lebanese Presidency press office via AP)
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Iran Seeks to Turn ‘New Page’ in Ties with Lebanon

 In this photo released by the Lebanese Presidency press office, Lebanese president Joseph Aoun, right, shakes hands with Iranian Foreign Minister Abbas Araqchi in Baabda, east of Beirut, Lebanon, Tuesday, June 3, 2025. (Lebanese Presidency press office via AP)
In this photo released by the Lebanese Presidency press office, Lebanese president Joseph Aoun, right, shakes hands with Iranian Foreign Minister Abbas Araqchi in Baabda, east of Beirut, Lebanon, Tuesday, June 3, 2025. (Lebanese Presidency press office via AP)

Iranian Foreign Minister Abbas Araqchi told Lebanese officials on Tuesday that Iran wanted to turn a "new page" in relations with Beirut, hinting at a shift in diplomatic ties that were long grounded in supporting Tehran-backed armed group Hezbollah.

Hezbollah was once a powerful armed movement and political party with sway over Lebanon's state, but it was severely weakened by Israel's bombing campaign last year. Since then, Lebanon's army commander was elected president and a new cabinet with curtailed influence for Hezbollah and its allies took power.

Araqchi's one-day trip to Beirut on Tuesday was his first since February, when he attended the funeral of Hezbollah's secretary general Hassan Nasrallah, killed in Israeli air strikes in September.

Araqchi told both Lebanon's Prime Minister Nawaf Salam and Foreign Minister Youssef Raggi that he wanted to "turn a new page" in Iran's ties with Lebanon, according to statements by Salam and Raggi's offices.

"Araqchi affirmed his country's keenness to open a new page in bilateral relations with Lebanon, based on mutual respect and non-interference in each other's internal affairs," Salam's office said. Araqchi also extended a formal invitation for Salam to visit Iran.

The statement from Raggi's office said the pair had a "frank and direct discussion," including on establishing the state's monopoly on the use of arms - an apparent reference to possible negotiations on the future of Hezbollah's arsenal.

The top Iranian diplomat briefly addressed reporters on Tuesday after meeting with Lebanon's parliament speaker Nabih Berri, who is a key Hezbollah ally. Unlike previous addresses by Iranian diplomats, his comments did not mention Hezbollah.

The visit followed several turbulent episodes in ties between the two countries.

Lebanon's foreign ministry summoned Iran's ambassador to Beirut in April over comments alleging that plans to disarm Hezbollah were a "conspiracy".

Last year, then-Prime Minister Najib Mikati also issued a rare rebuke of Iran for "interfering" in internal Lebanese affairs.

In February, Iran blocked Lebanese planes from repatriating dozens of Lebanese nationals stranded in Tehran after Lebanon said it would not allow Iranian aircraft to land in Beirut because of Israel's threats that it would bomb the planes.