Downtown Beirut on Jan. 12, 2024. (Credit: Philippe Hage Boutros/L'Orient-Le Jour)
Lebanese banks are seeking to appoint an adviser in preparation for possible talks with the Banque du Liban (BDL, central bank) over $80 billion in deposits and other claims they want to recover — an issue widely seen as one of the main drivers of the 2019 financial crisis, which Lebanon is still struggling to overcome.The Association of Banks in Lebanon (ABL), which groups 43 banking institutions, according to its website, is reviewing offers from at least two firms, Bloomberg reported, a development confirmed by a source close to the organization contacted by L’Orient-Le Jour.The ABL has been in contact for more than a month with U.S.-based Ankura Consulting Group — a detail L’Orient-Le Jour reported at the end of June — and is also reviewing an offer from Alvarez & Marsal, the firm the government previously hired to conduct a...
Lebanese banks are seeking to appoint an adviser in preparation for possible talks with the Banque du Liban (BDL, central bank) over $80 billion in deposits and other claims they want to recover — an issue widely seen as one of the main drivers of the 2019 financial crisis, which Lebanon is still struggling to overcome.The Association of Banks in Lebanon (ABL), which groups 43 banking institutions, according to its website, is reviewing offers from at least two firms, Bloomberg reported, a development confirmed by a source close to the organization contacted by L’Orient-Le Jour.The ABL has been in contact for more than a month with U.S.-based Ankura Consulting Group — a detail L’Orient-Le Jour reported at the end of June — and is also reviewing an offer from Alvarez & Marsal, the firm the government previously hired to...
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