Salim Chahine, one of the Central Bank’s vice-governors, told Reuters on Monday that the “Banque du Liban will decommission the exchange platform known as Sayrafa after Governor Riad Salameh’s tenure ends later this month.”
Chahine revealed that the bank’s leadership was in talks with policymakers in government and in Parliament, as well as with the International Monetary Fund, about the need to move away from the platform given “its lack of transparency and governance,” adding that the phasing out will be happening progressively.
Furthermore, a meeting of the BDL vice-governors with several parliamentary committees will be taking place tomorrow. It thus remains to be seen what the phasing out progressively entails, as things are never clear in Lebanon.
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