Lebanon Omai Company stopped auditing the Lebanese Central Bank
Lebanese media on 20th, the Finance Minister of the Lebanese caretaker government, Wazni, said that Omai Company notified the Ministry of Finance that it had decided to stop the audit of the Lebanese Central Bank because it could not obtain the necessary documents.
At present, the Lebanese authorities have not paid the audit fee, and Omai Company can claim compensation not exceeding 150,000 US dollars after the termination of the agreement.
According to reports, as of the 3rd of this month, the Central Bank of Lebanon had submitted only 42% of the required documents to Omai, which is in charge of auditing, on the grounds that it was protected by the Bank Secrecy Act. On the 5th, Treasury Secretary Wazni announced an extension of the central bank’s deadline for submitting the required documents to Omai by three months.
Lebanese President Aun previously said that judicial audit of central bank accounts is one of the measures taken in response to the economic and financial crisis and is very important for the implementation of the necessary reforms throughout the country.
