ECONOMY

Lebanese banks hope for positive impact from central bank statements

People wait to make transactions at an ATM outside a closed Blom Bank branch in downtown Beirut, Lebanon, October 25, 2019. (Reuters)

Lebanese banks welcomed statements from central bank governor Riad Salameh on Monday, expressing hope these would have a positive impact on banking operations, particularly his assurances about protecting deposits and the stability of the Lebanese pound.

The banks also welcomed Salameh’s instructions “regarding transfers abroad, and that these must be linked to people’s essential needs,” the Association of Banks in Lebanon said in a statement.

On Saturday, Lebanon’s president met with several Cabinet ministers and top banking officials in search for solutions for the deepening financial and economic crisis.
 

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Last Update: Monday, 11 November 2019 KSA 18:11 - GMT 15:11
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