SGBL Denies Making Transfers for Politicians, Shareholders after October 17

Lebanon’s SGBL bank on Thursday denied as “totally baseless” media reports claiming that politicians and shareholders had made transfers through the bank to foreign financial institutions in the wake of the October 17 uprising.

In a press release, the bank stressed that it is “committed to the resolution issued by (the central bank’s) Special Investigation Commission on January 9, 2020 and the request for information that was issued by the aforementioned commission following its first resolution.”

“They clearly demonstrate that the circulated reports are totally fabricated and false, which subjects the media outlet concerned, the article’s writer and the director in charge to legal prosecution,” SGBL added.

“Societe Generale de Banque au Liban S.A.L. will resort to the competent judicial authorities, especially criminal courts, to preserve its rights and reputation,” the bank warned.