Lebanese banking association says depositors’ money safe, no need for panic

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Lebanese depositors’ money is safe in the banks and there is no need for panic, Salim Sfeir, the head of the Association of Banks in Lebanon, said in a press conference on Saturday.

Funds for medicine, fuel and wheat imports were also secured, local media al-Jadeed cited economy minister Mansour Bteich as saying.

Their remarks came after a meeting between President Michel Aoun, the ministers of finance and economy, the central bank governor and other officials over the economic situation in the country.

Banks in Lebanon were closed on Saturday for an extra day amid deepening turmoil and public anxiety over liquidity.

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