Central Bank Governor Karim Souhaid wrapped up a round of high-level technical consultations in Paris and Washington focused on advancing structural reforms in the banking sector, according to a statement issued by Banque du Liban (BDL).
The meetings aimed to lay the groundwork for a comprehensive reform plan supported by legislative and executive measures, tailored to Lebanon’s institutional capacities. “The objective is to establish a clear roadmap,” BDL added in its statement.
While in Paris, Souhaid met with senior officials from the French Treasury to help define technical benchmarks for a nationally coordinated banking sector restructuring. Discussions placed particular emphasis on the gradual resolution of depositors’ rights.
In Washington, Souhaid participated in an executive program hosted at the International Monetary Fund (IMF), covering key policy areas such as governance, crisis management, monetary policy and capital controls. He also held talks with the IMF’s Lebanon team and the Director of the Middle East and Central Asia Department to craft an initial roadmap aimed at restoring trust in the country’s financial institutions.
Simultaneously, meetings with United States Treasury officials focused on enhancing Lebanon’s compliance with international anti-money laundering and counterterrorism-financing standards. Discussions included steps needed to address findings from the Financial Action Task Force (FATF) in a bid to remove Lebanon from its grey list. BDL also raised the issue of correspondent banking relations amid growing international scrutiny of NGOs operating in violation of US sanctions.
Concluding the statement, the Central Bank reaffirmed its commitment to “international standards of compliance, transparency and financial-sector conventions.”
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