اشترِك في نشرتنا الإخبارية
In reference to the decision issued on March 17, 2022 by the Mount Lebanon Public Prosecutor, Judge Ghada Aoun, regarding the travel ban imposed on the Chairman of Creditbank s.a.l. as well as the freezing of his assets, the Bank would like to highlight the following:
1- The Chairman of the Bank, has until now not been notified of any decision issued by the Public Prosecutor of Mount Lebanon. Instead he only learned about this decision through social media.
2- The Chairman had already appeared before the Public Prosecutor and provided all probative information and detailed clarifications concerning the investigation’s subject matter, especially regarding the amount overdrawn from the Bank’s account with the Central Bank of Lebanon that had been only used to carry out local transfers for depositors, and was later covered in USD from the Bank’s funds deposited with the Central Bank. As for the international transfers, their values were insignificant and relatively limited, and were exclusively made to settle amounts that had fallen due in favor of foreign financial and banking institutions.
3- The deposit of funds before the Central Bank is justified by legal and regulatory obligations, as well as local and international banking practices. Therefore the Bank should in no way be questioned about same, nor can it be held liable for the financial and economic policies or the absence of special legislations needed to face the current circumstances.
4- The bank and its Chairman confirm the non-violation of banking and financial laws, applicable regulations and circulars issued by the Central Bank and the Association of Banks. They also assert that the Bank has always abided by all regulatory obligations, which invalidates all accusations of any crime or breach of laws.
5- The Bank and its Chairman fully respect and abide by all laws, mainly the procedural laws that do not enable the Public Prosecutor to take any preventive measure all the more when such measures are legally unfounded and factually unjustified.
6- The ongoing investigation is based on a claim presented by parties who do not enjoy the legal authority to file claims. This is far from being innocuous to the banking sector as well as to the depositors’ interests.
7- Finally, the Bank will keep serving its clients despite all the challenges, with the aim of preserving their rights.
1- The Chairman of the Bank, has until now not been notified of any decision issued by the Public Prosecutor of Mount Lebanon. Instead he only learned about this decision through social media.
2- The Chairman had already appeared before the Public Prosecutor and provided all probative information and detailed clarifications concerning the investigation’s subject matter, especially regarding the amount overdrawn from the Bank’s account with the Central Bank of Lebanon that had been only used to carry out local transfers for depositors, and was later covered in USD from the Bank’s funds deposited with the Central Bank. As for the international transfers, their values were insignificant and relatively limited, and were exclusively made to settle amounts that had fallen due in favor of foreign financial and banking institutions.
3- The deposit of funds before the Central Bank is justified by legal and regulatory obligations, as well as local and international banking practices. Therefore the Bank should in no way be questioned about same, nor can it be held liable for the financial and economic policies or the absence of special legislations needed to face the current circumstances.
4- The bank and its Chairman confirm the non-violation of banking and financial laws, applicable regulations and circulars issued by the Central Bank and the Association of Banks. They also assert that the Bank has always abided by all regulatory obligations, which invalidates all accusations of any crime or breach of laws.
5- The Bank and its Chairman fully respect and abide by all laws, mainly the procedural laws that do not enable the Public Prosecutor to take any preventive measure all the more when such measures are legally unfounded and factually unjustified.
6- The ongoing investigation is based on a claim presented by parties who do not enjoy the legal authority to file claims. This is far from being innocuous to the banking sector as well as to the depositors’ interests.
7- Finally, the Bank will keep serving its clients despite all the challenges, with the aim of preserving their rights.
