Banking circles reject what is being circulated in some political meetings about nationalizing banks and scrapping bank deposits in a so-called “convincing way.”
A financial official stresses the importance that “Lebanon adheres to private ownership and ensures the independence of the Banking sector.”
He argues that the state is not bankrupt, but rather it owes the Central Bank more than $80 billion, and it is under the obligation to return the debt and acknowledge it in order to “reassure deposit holders.”
The financier called for respecting the independence of Lebanon’s Central Bank and that of the judiciary from politics, in order to prevent the state from spending through borrowing. He also demanded that the State adheres to a deadline to return its debts to the Central Bank.
This is the basic step in the rescue process, he said. Any project that does not achieve those objectives does not contribute to the resurrection of Lebanon.
The banking sector was the backbone for making Lebanon “the bank of Arab countries, the hospital and the university of the region.”
After the collapse of the banking sector, Lebanon lost all its advantages. Banking circles say that what is required “is not to liquidate the banking sector, but rather to address the financial crisis by strengthening the sector, which was the reason for Lebanon’s prosperity in the region and in the world.”
A financial official stresses the importance that “Lebanon adheres to private ownership and ensures the independence of the Banking sector.”
He argues that the state is not bankrupt, but rather it owes the Central Bank more than $80 billion, and it is under the obligation to return the debt and acknowledge it in order to “reassure deposit holders.”
The financier called for respecting the independence of Lebanon’s Central Bank and that of the judiciary from politics, in order to prevent the state from spending through borrowing. He also demanded that the State adheres to a deadline to return its debts to the Central Bank.
This is the basic step in the rescue process, he said. Any project that does not achieve those objectives does not contribute to the resurrection of Lebanon.
The banking sector was the backbone for making Lebanon “the bank of Arab countries, the hospital and the university of the region.”
After the collapse of the banking sector, Lebanon lost all its advantages. Banking circles say that what is required “is not to liquidate the banking sector, but rather to address the financial crisis by strengthening the sector, which was the reason for Lebanon’s prosperity in the region and in the world.”
This Is Beirut
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