The forensic audit file at the Bank of Lebanon has entered a new executive phase, with the bank officially launching the audit mission undertaken by the company “Alvarez & Marsal” in a group of operations related to its foreign assets, provided that it includes sensitive files dating back to the years that accompanied the outbreak of the financial crisis.
The Bank of Lebanon announced that it held a meeting with the company’s team to follow up on the stages of implementing the mission, after “Alvarez & Marsal” had officially begun its work on August 17, 2026, after winning the tender that was conducted in accordance with the Public Procurement Law and with the participation of the Ministries of Finance and Justice in the relevant committees.
The audit process covers the period from October 1, 2019 until December 31, 2023, and includes programs to support basic goods and materials, some bank transfers and public sector transfers, in addition to documentary credits related to the import of fuel.
The mission aims to track the path of funds associated with these operations, and scrutinize the mechanisms and procedures adopted to implement them, based on the documents, data and records available with the relevant official and banking authorities.
The Bank of Lebanon confirmed that it is working to provide all the required documents and facilitate the task of the audit team, pointing to the cooperation of the Ministries of Economy, Energy, Health and Agriculture, in addition to commercial banks and other relevant parties.
He explained that the ultimate goal is to reach independent and documented results that contribute to enhancing transparency and accountability, and consolidating the financial rights of the bank associated with the funds that were paid from its assets in foreign currencies, especially within support programs.
Last May, the Public Procurement Authority announced that “Alvarez & Marsal” had won the tender, with a basic value of $1.465 million, while the contract extends from August 17, 2026 until February 16, 2027.
The launch of this mission returns forensic auditing to the forefront of the financial scene, at a time when how funds and reserves are used during the years of crisis, especially in the files of subsidies, transfers, and fuel, remains one of the most prominent issues preoccupying depositors and Lebanese public opinion.
