عربي English Türkçe اردو فارسى
Logo
Latest News
Arab World

Lebanon Central Bank: Govt. Should Be the One to Submit its Accounts to Audit

The Lebanese central bank’s refusal to provide full data for a forensic audit may force consultancy Alvarez & Marsal (A&M) to walk away. (AFP)
The Lebanese central bank’s refusal to provide full data for a forensic audit may force consultancy Alvarez & Marsal (A&M) to walk away. (AFP)
TT
TT

Lebanon Central Bank: Govt. Should Be the One to Submit its Accounts to Audit

The Lebanese central bank’s refusal to provide full data for a forensic audit may force consultancy Alvarez & Marsal (A&M) to walk away. (AFP)
The Lebanese central bank’s refusal to provide full data for a forensic audit may force consultancy Alvarez & Marsal (A&M) to walk away. (AFP)

The Lebanese central bank’s refusal to provide full data for a forensic audit may force consultancy Alvarez & Marsal (A&M) to walk away or wait for a new cabinet to salvage the review, a key condition for foreign aid, two sources close to the matter said.

Banque du Liban (BDL) said in a statement on Wednesday that it had provided its own accounts to the turnaround specialist hired by Lebanon this year, but that it should be the government that submits full state accounts to the audit.

“This would spare the central bank from violating legally binding bank secrecy laws”, it said.

Caretaker Prime Minister Hassan Diab said on Tuesday the BDL had provided 42% of the information required and criticized it for citing legislation and banking secrecy as a justification.

The sources said the central bank was using banking secrecy as an excuse to withhold information needed for the audit, which has been requested by the International Monetary Fund and donors that have been pressing Lebanon to tackle endemic waste and corruption to exit a financial meltdown.

Earlier on Wednesday, caretaker Finance Minister Ghazi Wazni met with James Daniell, a managing director at A&M, and discussed “options regarding the (audit) contract which will be taken within the next 24 hours”, the ministry said.

The sources said the options include putting the audit on hold until the formation of a new government that could unlock the information, or cancelling the contract.

Prime Minister-designate Saad Hariri, named last month, has been trying to navigate Lebanon’s sectarian politics to form a cabinet to bring in reforms needed to tackle the country’s worst crisis since its 1975-1990 civil war, including banking paralysis, a currency crash and spreading poverty.

Lebanon’s plight worsened after it defaulted on its huge foreign currency debt in March following years of financial engineering by the central bank to help fund the government.

The finance minister had sought an opinion from the justice ministry on whether banking secrecy applied to the audit, one of the sources said.

“Referring to the finance minister’s letter that included the justice ministry opinion that ‘banking secrecy under Lebanese law does not apply to government or central bank accounts’..., the central bank points out that it submitted its own accounts to the finance ministry,” the BDL statement said.

Nafez Zouk, lead economist and emerging markets strategist at Oxford Economics, said that the banking secrecy law needed to be amended or temporarily suspended for the audit to happen.

Most Viewed

 
 
Arab World

US Says Gaza ‘Phase Two’ Beginning with Goal of Hamas Demilitarization

A tent camp for displaced Palestinians stretches across the Zeitoun neighborhood of Gaza City, Wednesday, Jan. 14, 2026. (AP)
A tent camp for displaced Palestinians stretches across the Zeitoun neighborhood of Gaza City, Wednesday, Jan. 14, 2026. (AP)
TT
TT

US Says Gaza ‘Phase Two’ Beginning with Goal of Hamas Demilitarization

A tent camp for displaced Palestinians stretches across the Zeitoun neighborhood of Gaza City, Wednesday, Jan. 14, 2026. (AP)
A tent camp for displaced Palestinians stretches across the Zeitoun neighborhood of Gaza City, Wednesday, Jan. 14, 2026. (AP)

President Donald Trump's envoy said Wednesday that a plan to end the Gaza war was now moving to Phase Two with a goal of disarming Hamas, despite a number of Israeli strikes during the ceasefire.

"We are announcing the launch of Phase Two of the President's 20-Point Plan to End the Gaza Conflict, moving from ceasefire to demilitarization, technocratic governance, and reconstruction," envoy Steve Witkoff wrote on X.

The second phase will also include the setup of a 15-person Palestinian technocratic committee to administer post-war Gaza. Its formation was announced earlier Wednesday by Egypt, a mediator.

Phase Two "begins the full demilitarization and reconstruction of Gaza, primarily the disarmament of all unauthorized personnel."

"The US expects Hamas to comply fully with its obligations, including the immediate return of the final deceased hostage. Failure to do so will bring serious consequences," he said.

Arab World

Lebanon Arrests Syrian Citizen Suspected of Funding Pro-Assad Fighters

A damaged portrait of Syria's ousted President Bashar al-Assad lies on the ground in the western Syrian port city of Latakia on Dec. 15, 2024. (AFP via Getty Images)
A damaged portrait of Syria's ousted President Bashar al-Assad lies on the ground in the western Syrian port city of Latakia on Dec. 15, 2024. (AFP via Getty Images)
TT
TT

Lebanon Arrests Syrian Citizen Suspected of Funding Pro-Assad Fighters

A damaged portrait of Syria's ousted President Bashar al-Assad lies on the ground in the western Syrian port city of Latakia on Dec. 15, 2024. (AFP via Getty Images)
A damaged portrait of Syria's ousted President Bashar al-Assad lies on the ground in the western Syrian port city of Latakia on Dec. 15, 2024. (AFP via Getty Images)

Lebanese authorities have arrested a Syrian citizen who is suspected of sending money to fighters loyal to former Syrian President Bashar al-Assad in Syria, judicial officials said Wednesday.

Ahmad Dunia was detained in recent days in Lebanon’s region of Jbeil north of Beirut and is being questioned over alleged links to Assad’s maternal cousin Rami Makhlouf as well as a former Syrian army general who left the country after Assad’s fall in December 2024, the officials said.

The officials described Dunia as the “financial arm” of the wealthy Makhlouf, saying he had been sending money to former Assad supporters in Syria who work under the command of ousted Syrian general Suheil al-Hassan who is believed to be in Russia.

The officials said the money was mostly sent to pro-Assad fighters who are active in Syria’s coastal region, where many members of his Alawite minority sect live.

Allegations that Dunia was financing Assad allies was first reported by Qatar’s Al Jazeera TV. He was then arrested by Lebanese security forces, according to officials who spoke on condition of anonymity because they were not authorized to speak to the media.

The arrest came a week after a Syrian security delegation visited Beirut and handed over to officials in Lebanon lists of dozens of names of former members of Assad’s security agencies whom they said are directing anti-government operations in Syria from Lebanon. Dunia’s name was one of those on the list, the officials said.

Since Assad’s fall, there have been several skirmishes between his supporters and the country’s new authorities.

In March last year, violence that began with clashes between armed groups aligned with Assad and the new government’s security forces spiraled into sectarian revenge attacks and massacres that killed hundreds of civilians from the Alawite minority.

Arab World

Sudan Peace Talks Resume in Cairo as War Nears 3-Year Mark

Displaced women fill water at displaced persons camp in El Obeid, North Kordofan State, Sudan, January 12, 2026. (Reuters)
Displaced women fill water at displaced persons camp in El Obeid, North Kordofan State, Sudan, January 12, 2026. (Reuters)
TT
TT

Sudan Peace Talks Resume in Cairo as War Nears 3-Year Mark

Displaced women fill water at displaced persons camp in El Obeid, North Kordofan State, Sudan, January 12, 2026. (Reuters)
Displaced women fill water at displaced persons camp in El Obeid, North Kordofan State, Sudan, January 12, 2026. (Reuters)

Sudan peace efforts resumed in Cairo on Wednesday as Egypt, the United Nations and the United States called for the warring parties to agree to a nationwide humanitarian truce, as the war between the army and its rival paramilitary nears the three-year mark.

Egyptian Foreign Minister Badr Abdelatty told reporters that Egypt wouldn't accept the collapse of Sudan or its institutions, or any attempt to undermine its unity or divide its territory, describing such scenarios as “red lines.”

Abdelatty said during a joint news conference with Ramtane Lamamra, the UN secretary‑general’s personal envoy for Sudan, that Egypt won't stand idly and won't hesitate to take the necessary measures to help preserve Sudan’s unity.

″There is absolutely no room for recognizing parallel entities or any militias. Under no circumstances can we equate Sudanese state institutions, including the Sudanese army, with any other militias,” he said on the sidelines of the fifth meeting of the Consultative Mechanism to Enhance and Coordinate Peace Efforts.

Lamamra said that the fifth such meeting demonstrated that diplomacy remains a viable path toward peace.

The paramilitary Rapid Support Forces, or RSF, and the military have been at war since April 2023. The conflict that has seen multiple atrocities and pushed Sudan into one of the world’s worst humanitarian crises.

Although repeated attempts at peace talks have failed to end the war, Abdelatty said that there's a regional agreement to secure an immediate humanitarian truce, including certain withdrawals and the establishment of safe humanitarian corridors.

Humanitarian aid Massad Boulos, the US senior adviser for Arab and African Affairs, said Wednesday that more than 1.3 metric tons of humanitarian supplies entered el-Fasher, the capital of North Darfur, on Wednesday, with the help of American-led negotiations, marking the first such delivery since the city was besieged 18 months ago.

“As we press the warring parties for a nationwide humanitarian truce, we will continue to support mechanisms to facilitate the unhindered delivery of assistance to areas suffering from famine, malnutrition, and conflict-driven displacement,” Boulos posted on X.

Egyptian President Abdel Fattah al-Sisi discussed with Boulos the need to increase coordination between both countries to achieve stability in Sudan, with Sisi expressing appreciation to US President Donald Trump’s efforts to end the war.

US and key mediators Saudi Arabia, Egypt and the United Arab Emirates, known as the Quad, proposed a humanitarian truce, which both sides reportedly agreed to, but the conflict has persisted.

“The President emphasized that Egypt will not allow such actions, given the deep connection between the national security of both brotherly countries,” the Egyptian president’s office said in a statement.

The United States has accused the RSF of committing genocide in Darfur during the war, and rights groups said that the paramilitary group committed war crimes during the siege and takeover of el-Fasher, as well as in the capture of other cities in Darfur. The military has also been accused of human rights violations.

Latest wave of violence

The UN Office for the Coordination of Humanitarian Affairs, OCHA, said on Tuesday that at least 19 civilians were killed during ground operations in Jarjira in North Darfur on Monday.

A military-allied Darfur rebel group said that it carried out a joint military operation with the army in Jarjira, saying that the operation liberated the area and its surroundings and forced RSF fighters to flee south.

At least 10 others were killed and nine others injured, also on Monday, in a drone attack that hit Sinja, the capital city of Sennar province, according to OCHA and the Sudan Doctors Network.

Sudan Doctors Network said in a statement that the drone strike was launched by the RSF and hit several areas in the city, describing the attack as the latest crime added “to the long list of grave violations against civilians.”

The group said that civilians are being deliberately targeted in a “full-fledged war crime.”

The Sudan Doctors Network also said that it “holds the Rapid Support Forces fully responsible for this crime and demands an end to their targeting of civilians and the protection of civilian infrastructure.”

Recent violence displaced more than 8,000 people from villages in North Darfur, with some fleeing to safer areas within the province and others crossing into Chad, according to the latest estimate by the International Organization for Migration.