According to Wissam Fattouh, the Secretary General of the Union of Arab Banks (UAB), Lebanon is set to enter a new phase aimed at restoring financial and monetary stability as the year 2025 approaches.
In a recent statement, Fattouh emphasized that regaining confidence in the Lebanese pound is critical for achieving economic stability.
This, he stressed, will require the implementation of strict and transparent financial and monetary policies to ensure price stability while bolstering foreign exchange reserves.
Enhancing the balance of payments and increasing foreign investment will be essential to this effort.
Fattouh also highlighted the need for Lebanese banks to rebuild trust with investors and international financial markets.
He urged local banks to strengthen their global banking relationships by adhering to international standards on anti-money laundering and counter-terrorism financing.
“The success of these efforts depends on cooperation from all national stakeholders, including the government, private sector and civil society,” he said.
Fattouh added that international support will be crucial in placing Lebanon on a path to sustainable growth and restoring its reputation as a reliable investment destination.
He also pointed to the ongoing reconstruction process in Syria as a significant economic opportunity for Lebanon.
Given the strong economic and commercial ties between the two countries, Lebanon is well-positioned to play a key role in supporting Syria’s infrastructure rebuilding efforts.
The massive reconstruction project presents new opportunities for Lebanese entrepreneurs, engineering firms and banks, particularly in sectors such as construction, energy, transportation and communications.
Increased cross-border trade will also help Lebanon attract foreign investment, contributing to job creation and economic growth.
This, Fattouh concluded, will strengthen economic and trade relations between Lebanon and Syria, further stabilizing Lebanon’s economy in the years ahead.
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