Al-Nashra website reported that Public Prosecutor Judge Jamal Hajjar has arrested the Chairman of the Board of Directors of Credit Bank, Tarek Khalifa, and his advisor, Ralph Sayyad, on charges of falsifying account statements that were sent to the Special Investigation Commission of the Central Bank of Lebanon, and of embezzlement and theft of funds from Credit Bank.
Lebanon’s banking system has essentially collapsed as part of a broader economic crisis that began in 2019. The crisis has been marked by a severe devaluation of the Lebanese pound, bank restrictions on withdrawals, and widespread economic hardship.
El Nashra