Falling oil prices hurt Lebanese economy too says Salameh

You would think that Lebanon would  benefit  greatly from the falling oil prices  , since  it  import all its  needs , but not according to  Central Bank Governor Riad Salameh. According to him  falling oil prices reduce the remittances Lebanon  receives from  the Lebanese people who work  in the Arabian Gulf countries . Salameh  said the bank is introducing measures […]

Banking chief: Events in Syria not good for Lebanon

In this interview Dr. Makram Sader, Secretary General of Association of Banks in Lebanon talks about several issues including economic growth, internal and external risks, sanctions against Syria and Iran, money laundering , tax exchange laws

Sanctions weigh on Lebanon-Syria banking ties

Beirut, Lebanon _ Lebanese banks which worked for years to build up business in neighboring Syria have been quietly implementing U.S. and European Union sanctions against Damascus to avoid jeopardizing their international operations, bankers and economists say. This is despite close financial ties between the two countries, cemented by the opening of seven Lebanese banking […]

Moody’s downgrades Lebanon banking-system outlook

Moody’s Investors Service lowered its outlook on Lebanon’s banking system to negative from stable, citing slowed economic growth and regional political uncertainty. The rating firm said Syria’s current instability was especially notable, as was the local banks’ exposure to countries with political unrest or economic slowdowns or both, such as Egypt or Jordan.

Syria sees allies as lifeline against sanctions

As Syria struggles to absorb Arab, European Union and Turkish sanctions, the policies of the few regional governments that have not turned against Damascus assume a new significance. Recent sanctions may have hit confidence, with the Syrian pound reportedly slipping further against the dollar, but analysts say Iraq, Lebanon and Iran are likely to help […]