The 14th annual Arab Banking conference in Beirut, Thursday, Nov. 20, 2014. (The Daily Star/Khalil Hassan)
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Invest your liquidity wisely, Salameh tells Arab banksCommercial and investment banks have to adapt to a new reality which requires them to absorb higher liquidity faster while being effective in their investments to avoid risks, Riad Salameh, Lebanon's Central Bank governor, told Arab bankers Thursday. The Central Bank will offer banks around $1 billion at 1 percent to be used for loans to residential projects, startups, and in the environmental and education sectors.Salameh said the Central Bank has also been purchasing sovereign paper, investing in the private sector, and buying real estate from banks to provide liquidity as part of its policy of maintaining stability in credit markets and in exchange rates.Remaining part of the global financial system, however, is becoming increasingly burdensome, explained Joseph Torbey, chairman of the World Union of Arab Bankers.
Public revenues to reach LL16T in 2014
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