BEIRUT: A Lebanese judge questioned central bank chief Riad Salameh on Wednesday after Beirut received a second Interpol Red Notice targeting him, this time following an arrest warrant from Munich, a judicial official said.
Salameh has been the subject of a series of judicial probes both at home and abroad into the fortune he has amassed during some three decades in the job.
France earlier this month issued an arrest warrant for Salameh after he failed to appear for questioning in Paris.
On Wednesday, Lebanese judge Imad Qabalan questioned Salameh over accusations of “money laundering, fraud, embezzlement and illicit enrichment,” the judicial official said, requesting anonymity as they were not authorized to speak to the media.
Two days earlier, Lebanon received an Interpol Red Notice pursuant to the arrest warrant issued in absentia by Munich’s public prosecutor, according to the judicial official.
Last week Qabalan had questioned Salameh, banned him from traveling, confiscated his French and Lebanese passports and released him pending investigation, after receiving the first Interpol Red Notice, issued following the French arrest warrant.
An Interpol Red Notice is not an international arrest warrant but asks authorities worldwide to provisionally detain people pending possible extradition or other legal actions.
Lebanon does not extradite its nationals but Salameh could go on trial in Lebanon if local judicial authorities decide the accusations against him are founded, an official previously told AFP.
Qabalan on Wednesday again banned Salameh from travel and released him pending investigation, the judicial official said.
He also requested Salameh’s file from the judiciary in Munich and noted that “only the Lebanese judiciary has the authority to try him,” the official added.
In March 2022, France, Germany and Luxembourg seized assets worth 120 million euros ($130 million) in a move linked to a probe into Salameh’s wealth.
In February, Lebanon charged Salameh with embezzlement, money laundering and tax evasion as part of its own investigations.
The domestic probe was opened following a request for assistance from Switzerland’s public prosecutor looking into more than $300 million in fund movements by Salameh and his brother.
Salameh, who was questioned for more than an hour on Wednesday, again “denied all charges against him” and said wealth came from private sources, the official added.
Salameh continues to serve as central bank governor. His mandate ends in July.
Activists say the travel ban helps shield him from being brought to justice abroad — and from potentially bringing down others in the entrenched political class, which is widely blamed for endemic corruption in the crisis-hit country.
His brother Raja was due to appear for questioning in France on Wednesday, but his lawyer said he was unable to attend due to medical reasons and the judge postponed the session for two months, the official added.
Lebanon judge questions central bank chief over Munich arrest warrant
https://arab.news/p8dga
Lebanon judge questions central bank chief over Munich arrest warrant
- Salameh has been the subject of a series of judicial probes both at home and abroad
- Lebanese judge Imad Qabalan questioned Salameh over accusations of "money laundering, fraud, embezzlement and illicit enrichment"
Turkiye to forge on with tight economic policy, some fine-tuning, VP Yilmaz says
- The central bank forecasts inflation between 13-19 percent by end-2026
ISTANBUL: Turkiye is committed to carrying on its tight economic policies in order to cool inflation, and though it may fine-tune the program it will not change course, Vice President Cevdet Yilmaz said in comments embargoed to Friday.
“There is no plan to pause our program,” Yilmaz said at a briefing with reporters in Istanbul on Thursday. “All programs are dynamic, and adjustments can always be made.”
Yilmaz, who plays a key role overseeing economic policy at the presidency, said any such adjustments would aim to support production, investment and exports while moderating consumption.
Turkiye has pursued tight monetary and fiscal policies for more than two years in order to reduce price pressure, leading to high financing and borrowing costs that have weighed on businesses and households. Inflation has eased slowly but steadily over the last year but remains elevated at 31 percent annually.
Last month, Is Bank CEO Hakan Aran warned that focusing solely on one target — inflation — could create side effects, suggesting a “pause and restart” might be healthy once the program achieves certain targets.
Yılmaz said the government expects improvements in inflation in the first quarter, which should reflect to market expectations for year-end inflation around 23 percent. The government projects inflation to dip as far as 16 percent by year end, within a 13-19 percent range, and falling to 9 percent in 2027. The central bank forecasts inflation between 13-19 percent by end-2026.
Yilmaz noted inflation fell by nearly 45 points despite pressure from elevated food prices, hit by agricultural frost and drought.
The agricultural sector is expected to support growth and help ease price rises this year, which could help achieve official inflation targets, he said.
Yilmaz said the government wants to avoid a rapid drop in inflation that could hurt economic growth, jobs and social stability.
Turkiye’s economic program was established in 2023 after years of unorthodox easy money that aimed to stoke growth but that sent inflation soaring and the lira plunging. The program aims to dislodge high inflation expectations while boosting production and exports, in order to address long-standing current account deficits.
The central bank, having raised interest rates as high as 50 percent in 2024, eased policy through most of last year, bringing the key rate down to 38 percent.
Asked whether lower rates could trigger an exit from the lira currency, Yilmaz said: “What matters is real interest rates. Lowering rates as inflation falls does not affect real rates, so we do not expect such an impact.”
He added that the government will strengthen mechanisms that selectively support companies while improving overall financial conditions.
