One of the main entrances to the Banque du Liban (BDL) in Beirut. (Credit: P.H.B./L'Orient-Le Jour)
This was intended to be a cornerstone project for the new leadership at Banque du Liban (BDL): the adoption of a new exchange platform to end the multiplicity of rates that have plagued Lebanon since the onset of its financial crisis. Following former governor Riad Salameh’s departure in July 2023, his deputy governors announced plans to implement the Bloomberg Interbank Matching System.This system was set to replace the short-lived and opaque Sayrafa platform introduced by the now-imprisoned former governor. It was considered a key step in the reforms negotiated with the International Monetary Fund (IMF). At the time, preparations progressed steadily, and initial discussions had already begun with Bloomberg to bring the initiative to fruition. Reforms: BDL denies responsibility Reforms: BDL denies responsibility However, the war...
This was intended to be a cornerstone project for the new leadership at Banque du Liban (BDL): the adoption of a new exchange platform to end the multiplicity of rates that have plagued Lebanon since the onset of its financial crisis. Following former governor Riad Salameh’s departure in July 2023, his deputy governors announced plans to implement the Bloomberg Interbank Matching System.This system was set to replace the short-lived and opaque Sayrafa platform introduced by the now-imprisoned former governor. It was considered a key step in the reforms negotiated with the International Monetary Fund (IMF). At the time, preparations progressed steadily, and initial discussions had already begun with Bloomberg to bring the initiative to fruition. Reforms: BDL denies responsibility Reforms: BDL denies responsibility However, the...
JD Vance to Geagea: US engaging Iran to pressure Hezbollah