The Lebanese judiciary has taken a significant step in tackling financial corruption by arresting Riad Salameh, the former governor of the Central Bank of Lebanon. Salameh, who served in this pivotal role for many years, is facing serious charges that could reshape the narrative around Lebanon's financial crisis. This arrest comes after a lengthy investigation into his dealings with the brokerage firm Optimum Invest, where he is accused of embezzling over $40 million from the Central Bank. The implications of this case are vast, as Salameh’s tenure has been marred by allegations of financial mismanagement and corruption, leading to Lebanon’s devastating economic collapse that began in 2019.
The arrest, carried out by Public Prosecutor Judge Jamal Al-Hajjar after a three-hour interrogation, marks the first time Salameh has faced the judiciary since his term ended on July 31, 2023. Reports indicate that the investigation not only focuses on the dealings with Optimum Invest but also scrutinizes contracts related to treasury bonds and deposit certificates that may have involved dubious commissions. This development comes on the heels of international sanctions imposed on Salameh by the United States, Britain, and Canada, which accused him of abusing his position to facilitate corruption and personal enrichment through complex financial maneuvers.
As one of the longest-serving central bank governors globally, Salameh's arrest could signify a turning point in Lebanon's struggle against corruption. Many Lebanese citizens view him as a key figure in the financial collapse, while Salameh himself claims he is merely a scapegoat for a deeper systemic issue rooted in decades of mismanagement by the ruling elite. The outcome of this case may not only affect Salameh’s future but could also influence Lebanon’s path toward recovery from its ongoing economic crisis.
