Beirut: Lebanon’s Indictment Chamber has ordered the release of former Central Bank Governor Riad Salameh after setting bail at an unprecedented level — $20 million in cash along with 5 billion Lebanese pounds. The court also imposed a one-year travel ban, preventing him from leaving the country as investigations continue.

Salameh, who led the Banque du Liban for three decades until 2023, is facing a web of domestic and international charges, including illicit enrichment, money laundering, and misuse of public funds. Ongoing probes in Lebanon, France, Switzerland, and other European jurisdictions have linked him to allegations of siphoning central bank funds into offshore companies and real estate investments.

The former governor has repeatedly denied the accusations, claiming the cases are politically driven. Yet critics argue he played a central role in Lebanon’s devastating financial collapse, which since 2019 has destroyed the banking sector and plunged millions into poverty.

Legal analysts say the bail — the highest ever recorded in Lebanon — underscores both the seriousness of the allegations and the significance of holding one of the country’s most influential financial figures accountable.

What comes next remains uncertain: Salameh could face trial in Lebanon, extradition to Europe, or parallel proceedings in multiple jurisdictions. For now, his release under strict conditions marks a dramatic new chapter in a corruption saga that has come to symbolise Lebanon’s deep financial and political crisis.