Joseph Torbey attends a conference in Beirut, Tuesday, June 30, 2015. (The Daily Star/Mohammad Azakir)
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Some Arab banks are facing difficulties in dealing with U.S. banks despite having fulfilled all international requirements on supervision and compliance, a leading Arab banker said Tuesday.Wissam Fattouh, the secretary-general of the Union of Arab Banks, emphasized the importance of the ongoing dialogue between Arab and American banks.Echoing Hammoud, Mohammad Baasiri, deputy governor at the Central Bank of Lebanon, said that the Parliament must approve pending laws drafted by the Central Bank in order to safeguard the health of the banking sector.Baasiri said that the Central Bank is keen on preserving the financial integrity of the banking sector in Lebanon.Yoghourtdjian cited the example of big U.S. banks that have become even bigger since the 2008 financial crisis.Yoghourtdjian said that banks should also avoid building up risks.
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