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“Untrue”

-LBDI Describes Media Report That It Has Been Dropped By Citi Bank In New York

The attention of the Liberian Bank for Development and Investment has been drawn to speculations in the media that “Citi Bank in New York has dropped LBDI as money transfer partner and Qatar Bank turned LBDI down for US$50M Loan”.

The Bank wishes to clarify that the story is UNTRUE and BASELESS as the LBDI continues to enjoy correspondent banking relationship with Citibank, New York even up to the time of this press release. LBDI and Citibank have enjoyed mutual relationship for decades and is the only banking institution in Liberia that has direct money transfer relationship with Citibank, New York.

The Bank further clarifies that at no time has it engaged a Qatari Bank for financing neither has a Qatari Bank offered financing to the LBDI.

The LBDI wishes to assure its valued customers and the general public that these speculations are intended to instill fear in the public. Source: Press Release

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