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Several websites have been circulating false allegations, claiming the existence of links between independent operations entered into by Bank Audi, where in fact such links do not exist. Circulated allegations also contain a number of other misleading statements.
Certain media have drawn non-factual conclusions from the aforementioned allegations that have led to fake news deliberately and methodically circulating in some media and on social media channels. Bank Audi asks all media to show due diligence in their reporting to avoid relaying false information, and misleading the public.
Similar to previous unfounded allegations, the said reports have alleged that Bank Audi has obtained unduly favourable treatments in connection with the financial engineering operations conducted by the Central Bank in 2016, to attract fresh USD funds to Lebanon. Bank Audi wishes to confirm, once again, that this is a false allegation as its participation in the aforementioned operation was consistent with its positioning as the largest bank in Lebanon and the revenue generated by it, when pro-rated to the size of its participation, is similar to that of the other 34 participating banks, as evident by the report published in public media on January 13, 2017 (the only detailed public record to our knowledge).
No link exists between the participation of Bank Audi in said operations and any other transaction entered into by the Group.
Once again, Bank Audi is keen on reiterating its commitment to applicable banking laws and regulations in Lebanon and overseas. Any claims to the contrary are pure fabrications done clearly for suspicious purposes.
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