Cedrus Group: We have not received any special treatment from the Central Bank of Lebanon

The Cedrus Banking Group issued a statement on Sunday, in which it categorically denied recently circulated news through social media, linking the Group to a specific political party and involving it in the current political conflict in the country, and claiming that the Cedrus Group has benefited from "financial engineering" for political purposes.

Accordingly, the Board of Directors of Cedrus Invest Bank and the Board of Directors of Cedrus Bank clearly emphasized in their issued statement that “the Banking Group, which has been established since 2011, is not affiliated with any political party or movement in Lebanon, and cooperates with all political blocs with the aim of developing constructive plans to advance the national economy.”

The statement indicated that the Group is owned by a number of Lebanese businessmen, working especially in the Gulf countries, and by Saudi nationals, asserting that none of the Lebanese politicians owns a single share in the Group, whether directly or indirectly. “The full list of shareholders and the percentage of their contributions can be found on our website,” the statement added.

Finally, the Cedrus Banking Group hoped that all political parties and those commenting through social media would take these facts into consideration, keeping their eyes pinned on the future of Lebanon and focusing on setting plans “to build a productive and effective national economy and stimulate young and ambitious institutions, instead of trying to destroy them through rumors and false news.”