Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Lebanese banks face no threat of any international penalties after the local lenders successfully complied with all anti-money laundering and other similar legislation, the chairman of the World Union of Arab Bankers said Tuesday.Lebanese banks know how to deal with international resolutions and decisions," Torbey explained.He also predicted relatively good growth for Lebanese banks in 2015 despite the political and security problems plaguing the country. Torbey added that Lebanese lenders would continue to finance the public debt in 2015 despite Moody's downgrade of three major banks. Lebanese banks hold a big chunk of the sovereign debts of the state and have been able finance the public debt for more than two decades.The consolidated balance sheets of the Lebanese banks at the end of September exceeded $180 billon, four times Lebanon's GDP.Torbey also commented on the Lebanese banks which operate in countries that have been the scenes of uprisings and civil war.
Dollar demand ‘nothing unusual’, Lebanese bankers say
Lebanon to pay top yield on new Eurobonds
S&P: Lebanon FX reserves enough for a year
FOLLOW THIS ARTICLE