Judge releases BDL director after posting bail

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The arrest warrant of Mazen Hamdan was issued last week by Lebanon’s Financial Prosecutor Ali Ibrahim who accused him of “manipulating the lira exchange rate.”

by Georgi Azar -Source: Annahar

BEIRUT: A Lebanese judge has released the central bank’s director of monetary operations after posting a 300 million LBP bail.

The arrest warrant of Mazen Hamdan was issued last week by Lebanon’s Financial Prosecutor Ali Ibrahim who accused him of “manipulating the lira exchange rate.”

The move came at the heels of the arrest of Mahmoud Mrad, head of the Syndicate of Money Changers in Lebanon, who was detained along with several others “after an investigation into money changers selling in an illegal manner.”

Hamdan, along with four money changers, was charged with the offense of violating banking laws and money laundering.

With AP

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