Lebanese Ex-Banking Chief Set for Release Amid Financial Scandal

Former Lebanese central bank governor Riad Salameh is to be released on bail after nearly 13 months in detention over alleged financial misconduct. Salameh, once a pivotal banking figure, faces ongoing legal battles over embezzlement charges. He is prohibited from leaving Lebanon for a year.

Former Lebanese central bank governor Riad Salameh is expected to be released on Friday after posting a record-high bail, following more than a year in detention. Salameh's fall from grace came after a financial crisis in 2019 devastated the Lebanese banking system, leading to widespread corruption allegations.

Arrested in September 2024, Salameh faced charges including embezzlement. Sources report he will be released after paying $14 million in bail, coupled with 5 billion Lebanese pounds, marking Lebanon's highest recorded bail.

Despite his release, Salameh remains under a travel ban for one year as legal proceedings continue. The public prosecutor confirms that the travel restriction will remain until his legal woes are resolved.

(With inputs from agencies.)