Lebanon resumes sales of CDs to control inflation

Lebanon’s central bank resumed the sale of certificates of deposit today to help absorb excess liquidity in the banking system and keep control of inflation, Governor Riad Salameh said. “We have an objective of keeping inflation at 4 percent and we want to absorb excess liquidity that could cause an increase in prices,” Salameh said […]

IFC buys 8% of Lebanon’s Byblos Bank

The World Bank’s private sector arm has bought an 8 percent stake in Lebanon’s Byblos Bank for $100 million, the Lebanese bank said Friday. The International Finance Corporation (IFC) bought more than 47.6 million shares at a price of $2.10 per share, Byblos Bank said. Byblos is Lebanon’s third-largest bank by assets and deposits. At […]

The Lebanese pound will be stable in 2010, banking system is safe

Riad Salameh , Central Bank Governor told OTV on Tuesday that Lebanon can take advantage of the increase in the price of gold, adding that the Lebanese currency will be stable in 2010 and that the country’s banking system is safe from any problems in the near future. Salameh said the Central Bank achieved economic […]