Skip to main content

Lebanon hires international consulting firm to conduct audit

Alvarez & Marshal will conduct a type of audit focused on financial crimes and money tracing amid allegations of corruption and money laundering by top Lebanese officials.

Lebanon hired an international consulting firm on Friday to conduct an audit focused on money tracking. 

Finance Minister Youssef Khalil signed the contract with the New York-based Alvarez & Marshal to perform a forensic audit of the Lebanese government. 

Lebanon is in the throes of a devastating economic and energy crisis. The situation began in 2019, and since then, the Lebanese pound has lost more than 90% of its value against the dollar. The 2020 explosion in Beirut’s port worsened the situation. Lebanon was also without a permanent governmental Cabinet for more than a year until Prime Minister Najib Mikati finally formed one last week. Popular anger and anti-government protests have occurred throughout the crisis. 

Forensic audits trace the movement of money, often with the aim of uncovering financial wrongdoing. 

The head of Lebanon’s Central Bank Riad Salameh has been accused of transferring hundreds of millions of dollars outside the country. Switzerland started a money laundering investigation focused on Salameh in April, and France opened a probe into his personal wealth in June. Other Lebanese politicians have also been accused of corruption

Alvarez & Marshal will submit their initial report to Lebanon within 12 weeks, according to the National News Agency. Employees for the firm did not immediately respond to Al-Monitor's request for comment on the audit.

The United States and France have long demanded the Lebanese government institute governance and anti-corruption reforms before delivering more assistance to the country. 

Join hundreds of Middle East professionals with Al-Monitor PRO.

Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.

Already a Member? Sign in


The Middle East's Best Newsletters

Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.


What's included:
Our Expertise

Free newsletters available:

  • The Takeaway & Week in Review
  • Middle East Minute (AM)
  • Daily Briefing (PM)
  • Business & Tech Briefing
  • Security Briefing
  • Gulf Briefing
  • Israel Briefing
  • Palestine Briefing
  • Turkey Briefing
  • Iraq Briefing

Premium Membership

Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.

$25.00 / month
billed annually

Become Member Start with 1-week free trial
What's included:
Our Expertise AI-driven

Memos - premium analytical writing: actionable insights on markets and geopolitics.

Live Video Q&A - Hear from our top journalists and regional experts.

Special Events - Intimate in-person events with business & political VIPs.

Trend Reports - Deep dive analysis on market updates.

Text Alerts - Be the first to get breaking news, exclusives, and PRO content.

All premium Industry Newsletters - Monitor the Middle East's most important industries. Prioritize your target industries for weekly review:

  • Capital Markets & Private Equity
  • Venture Capital & Startups
  • Green Energy
  • Supply Chain
  • Sustainable Development
  • Leading Edge Technology
  • Oil & Gas
  • Real Estate & Construction
  • Banking

We also offer team plans. Please send an email to and we'll onboard your team.

Already a Member? Sign in

Start your PRO membership today.

Join the Middle East's top business and policy professionals to access exclusive PRO insights today.

Join Al-Monitor PRO Start with 1-week free trial