Acting Governor of Lebanon’s Central Bank (BDL) Wassim Mansouri commented on the subject of deposit restitution during his visit to London, saying that it is necessary to accept the fact that this “will not happen overnight, but that there are mechanisms in place to return them.”
He pointed out that “confidence in the banks will not be rebuilt without the resolution of the deposits’ problem, and that at the end of the day, there is no economy without the banking sector.”
More than four years after the start of the multidimensional financial crisis, the Lebanese still don’t know what will happen to their deposits, as the State has yet to take a decision.
Mansouri stressed “the need for structural reforms and the restructuring of the public sector.”
He recalled that some of the Central Bank’s policies had been modified, and a series of decisions had been taken to build the institution internally. “The Central Bank is working on internal accounting and putting an end to its financial relationship with the State by reformulating it and stopping financing.”
