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
U.S. Probes Lebanon Banking Deals
The Obama administration is intensifying its scrutiny of Lebanon’s financial system, concerned that Syria, Iran and the militant group Hezbollah are using Beirut’s banks to evade international sanctions and fund their activities.
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 […]
Over $4 million is missing from a bank in south Lebanon
More than $4 million is missing at Al-Jammal bank branch in Jwaya near the southern port city of Tyre after the manager reportedly disappeared , al-Liwaa newspaper reported Thursday.
BLOM bank net profit up 13 percent, report
Lebanese BLOM Bank said first-half net profit rose 13.1 percent compared with the year-ago period to $156 million, supported by a buoyant domestic economy and strong consumer demand for loans.
Bank of Lebanon Must Stop Issuing High Interest Rate CD’s.
By Ghassan Karam
It happened again. The Lebanese commercial banking sector in addition to many in the Cabinet were making the obligatory news media rounds on May 10, 2010 trumpeting the extraordinary increase in capital inflows into Lebanon.
Lebanon cabinet appoints Banking Control Commission
Lebanon’s Minister of State Jean Ogassapian briefed the media on the emergency cabinet session that took place at the presidential palace in Baabda.