Former Banque du Liban (BDL) governor Riad Salameh, once hailed as the architect of Lebanon’s financial system, has been released on bail of over $20 million after nearly a year in detention on charges of embezzling public funds. The decision, which comes at a time when ordinary Lebanese continue to reel from the country’s unprecedented economic collapse, has reignited debate over whether the nation’s judicial system is capable of holding its most powerful figures to account.

The ruling by a Lebanese court allows Salameh’s conditional release, subject to a one-year travel ban. Yet critics argue that the move represents more of a symbolic gesture than a serious step toward justice. For many Lebanese, the case epitomizes the broader pattern of impunity and political interference that has allowed decades of corruption to devastate the nation’s economy.

Riad Salameh, who served as central bank governor from 1993 until 2023, once enjoyed international acclaim for his management of Lebanon’s monetary policy. For years, he was credited with maintaining a stable currency despite political instability. But as Lebanon’s financial edifice began to crumble in 2019, the narrative shifted sharply. Critics accused him of overseeing what amounted to a state-sponsored Ponzi scheme, where new deposits were used to pay off old debts, all while politicians and elites benefited from years of mismanagement.

By the time Lebanon’s economy collapsed, ordinary citizens saw their savings evaporate, the local currency lose more than 90 percent of its value, and poverty rates soar. Salameh became one of the most reviled figures in the country, seen by many as the symbol of a system that enriched the few while impoverishing millions.

In September 2024, Salameh was arrested and charged with embezzling $44 million in public funds. He was also accused........

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