The arrest warrant against Lebanon's embattled Central Bank Governor did not come out of the blue.
Weeks of reports foreshadowed the French judiciary's decisive move to file preliminary charges of fraud and money laundering against Riad Salameh, during a hearing on Tuesday.
As Mr Salameh's absence was noted in court, the Lebanese justice responsible for delivering the summons on behalf of France, said officials were “unable to locate the governor”.
That argument failed to convince the French judge leading the case, Aude Buresi, who issued an arrest warrant on Tuesday, two sources told The National.
“Mr Salameh is no longer a suspect. He now stands accused in the case”, said Karim Daher, a Financial Accountability Transparency and Integrity panellist and lawyer.
An arrest warrant is issued for those who are either on the run or living outside France, if compelling evidence is provided indicating their involvement, either as perpetrators or accomplices, in the commission of a crime.
It is not an indictment yet. “It will become an indictment if the judiciary fails to execute the arrest warrant”, a French lawyer told The National.
Several European countries are investigating Mr Salameh for allegedly embezzling at least $330 million dollars from the central bank through a brokerage contract signed with his brother's company, Forry Associates Ltd.
Forry, which investigators suspect is a shell company, received a commission on each transaction with the commercial bank for more than a decade. The money was allegedly then laundered through the purchase of luxury properties in Europe for Mr Salameh and his relatives.
“The French judge can now request a red notice from Interpol”, said Mr Daher.
“This will inform its members that the individual in question is wanted. Authorities will then be able to help identify and locate the targeted person in their countries in a bid to extradite them to the country that issued the notice.”
According to the departing Lebanese Minister of Interior, Bassam Mawlawi, the request has not been made yet.
“There is no Interpol arrest warrant against the governor of the central bank so far, but rather a warrant issued by a French judge,” he said on Tuesday.
The French government must submit a request to Interpol, which in turn will present a red notice to Lebanon for further examination.
“Lebanon can request France to prepare an extradition request, which will then be examined,” said Mr Mawlawi. “The extradition of the accused can only take place after a decree is issued by the Lebanese government.”
If a red notice is issued, Lebanon is not legally compelled to extradite Mr Salameh and probably won't, in line with its long-standing policy of not extraditing its own citizens.
“Mr Salameh would not be extradited due to Lebanese legal provisions and the absence of an extradition treaty”, Former justice minister Marie-Claude Najm previously told The National.
For some, the situation has parallels with that of businessman Carlos Ghosn, who fled house arrest in Japan to Lebanon, which in turn refuses to extradite him. He now lives a seemingly normal life in Beirut.
While the case is ongoing, most of Mr Salameh's assets – more than a hundred million dollars of property and banking assets across Europe – remain frozen.
If he is convicted, these assets could be sold and the proceeds would potentially be returned to Lebanon.
Mr Salameh denies any wrongdoing.
On Tuesday, Mr Salameh said that he would challenge the decision, because the French investigation neglected the “confidentiality of investigations”, and contradicted “the presumption of innocence” in its approach, and in its selective application of texts and laws.
International discredit
But what awaits Mr Salameh in Lebanon If he is not extradited?
The latest developments have led to growing calls for his resignation as Lebanon's Central Bank Governor.
Mr Daher says he is concerned about the implications of this case on his country.
“It raises serious concerns for Lebanon's international reputation to have a central bank governor – who is also the president of the special investigation committee for money laundering and financing of terrorism – himself accused of money laundering”, he said.
Opposition MP Marc Daou tweeted on Tuesday that “Riad Salameh must resign immediately in order to preserve and respect state institutions”.
The French judiciary's decision was praised by some political parties.
“The international arrest warrant issued in absentia against Riad Salameh represents a significant turning point in the fight against corruption,” said the Free Patriotic Movement, a Christian party.
However, the issue of his resignation is likely to be short-lived, as Mr Salameh's mandate is due to expire in July.
Lebanon's Prime Minister Najib Mikati, who has long supported Mr Salameh, has recently adopted a new stance, making it clear that he will not be renewing his mandate.
However, a consensus is yet to be reached on the appointment of a successor, to avoid a power vacuum.
There are intense debates within the ruling class about whether the caretaker cabinet has the authority to appoint a governor in the absence of a president, or if the vice- governor should assume the role of an interim governor.
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
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1.
2.
3.
4.
5.
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Engine: 2.0-litre 4cyl turbo
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Torque: 405Nm at 1,750-3,500rpm
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Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
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Virtual banks explained
What is a virtual bank?
The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.
What’s the draw in Asia?
Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.
Is Hong Kong short of banks?
No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year.
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
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APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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- Ethan Nwaneri (Arsenal)
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16 years, 68 days old
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Asia Cup Qualifier
Final
UAE v Hong Kong
Live on OSN Cricket HD. Coverage starts at 5.30am
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
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War 2
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Investing in the future
Mohammed bin Zayed Majlis
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
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The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km
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THE NEW BATCH'S FOCUS SECTORS
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RESULTS
Main card
Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision
Super heavyweight 94 kg: Adnan Mohammad (IRN) beat Mohammed Ajaraam (MAR), Split points decision
Lightweight 60kg: Zakaria Eljamari (UAE) beat Faridoon Alik Zai (AFG), RSC round 3
Light heavyweight 81.4kg: Taha Marrouni (MAR) beat Mahmood Amin (EGY), Unanimous points decision
Light welterweight 64.5kg: Siyovush Gulmamadov (TJK) beat Nouredine Samir (UAE), Unanimous points decision
Light heavyweight 81.4kg: Ilyass Habibali (UAE) beat Haroun Baka (ALG), KO second round
Company%20Profile
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Neymar's bio
Total club appearances 411
Total goals scored 241
Appearances for Barca 186
Goals scored for Barca 105
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
The%20Mother%20
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
