Lebanese Central Bank Governor Riad Salameh comments on the outlook for Syrian banks and economy. He spoke in a Feb. 16 interview from his Beirut office with Bloomberg’s reporter Donna Abu-Nasr.
Profits of Lebanese bank subsidiaries operating in Syria plunged more than 69 percent in the first nine months of the year, as the two-year revolt against Bashar Al Assad and international sanctions take their toll on the country’s economy
Lebanon’s biggest bank, Bank Audi , will launch operations in Iraq next year and its rival Byblos Bank is to enter the Libyan market as both contend with a flagging domestic economy.
Lebanese banks in Syria have lost 400 million dollars during the 20-month-old crisis in Syria, central bank chief Riad Salameh told Reuters on Friday. Salameh said that the government is also planning to exchange 1.5 billion dollars of Eurobond debt when it matures in 2013
Over the past two years, US pressure on Lebanese banks reached unprecedented levels. The main indicator is the increased frequency of visits from US treasury envoys to Lebanon. The latest such visit was paid by Neal Steven Wolin, US deputy secretary of the treasury. Before him came Daniel Glaser, assistant
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
Major Wall Street and European financial firms are coming under pressure to dump their holdings in Lebanese debt and securities from activists who charge that Iran, Syria and the Lebanese militant group Hezbollah are using Beirut’s banking system to launder money and evade international sanctions.
Moody’s Investors Service lowered the standalone assessments of 13 banks in Jordan, Lebanon, Pakistan and Ukraine to reflect the degree to which the banks’ businesses depend on the domestic macroeconomic and financial environment, reliance on market-based funding and exposure to domestic sovereign debt.
US banks are refusing to let Syria’s UN delegation open a bank account, its ambassador said Thursday blaming sanctions imposed over the conflict in his country. Syria’s UN envoy Bashar Jaafari said the refusal by US banks was a “flagrant violation” of the UN charter. Syria was among a group of countries that lost their […]
Lebanese Central Bank Governor Riad Salameh discusses the exposure of the country’s banks to government debt as well as the latest efforts to insulate the lenders from a crisis in neighboring Syria. He spoke in an interview today at his office in Beirut. On economic growth: “The indicators are showing that the real growth could […]