(Illustration by L'Orient-Le Jour)
During a closed-door meeting earlier this week with representatives of the Association of Banks in Lebanon (ABL), the new Governor of the Central Bank (BDL), Karim Souhaid, revisited his interpretation of the financial crisis that has paralyzed the country since 2019. His message was clear and firm. “Everyone will have to pay their share — the state, the central bank, and the banks,” said Souhaid, a key figure in the banking restructuring, who was described by some as close to the banking lobby — a claim that Souhaid denies.In previous meetings, mainly in parliamentary committees, he echoed BDL’s position that the crisis is “systemic” and requires an exceptional legislative response. However, he rejected the idea that this would exonerate the banks. “I am neither the banks’ ally nor their enemy,” he firmly reiterated. Read more...
During a closed-door meeting earlier this week with representatives of the Association of Banks in Lebanon (ABL), the new Governor of the Central Bank (BDL), Karim Souhaid, revisited his interpretation of the financial crisis that has paralyzed the country since 2019. His message was clear and firm. “Everyone will have to pay their share — the state, the central bank, and the banks,” said Souhaid, a key figure in the banking restructuring, who was described by some as close to the banking lobby — a claim that Souhaid denies.In previous meetings, mainly in parliamentary committees, he echoed BDL’s position that the crisis is “systemic” and requires an exceptional legislative response. However, he rejected the idea that this would exonerate the banks. “I am neither the banks’ ally nor their enemy,” he firmly...