Lebanese banks' African subsidiaries hit by chaos back home

摘要

Finance is at the heart of Lebanon's turmoil, asillustrated by two recent events. In early May, a judgeordered the assets of Lebanese bank presidents to befrozen, while in April two complaints for alleged moneylaundering were filed against the governor of the CentralBank of Lebanon. The subsidiaries of Lebanese banksabroad are meanwhile being dragged down by thecollapse of their parent companies.