Banks

Financial Gap Threatens Depositors Amid Government Inaction

Nadia al-Hallak for Houna Loubnan, 13/12 20:12 - Reading : 6 minute(s)

Banks Central Bank of Lebanon Banque du Liban Middle East

Amid ongoing government debates over the draft law addressing the financial shortfall and the fate of deposits, concern is growing within economic and banking circles over the plan’s potential direction. Each new draft leak highlights a deep disagreement—over how losses should be allocated and the extent of the burden the state must shoulder ...

Jaber’s Blunt Truth: The Law that Destroys Banks and Wipe Out Savings

This is Beirut, 13/12 14:30 - Reading : 2 minute(s)

Lebanon Banks

Finance Minister Yassine Jaber did not mince words: “The banks will be the first losers” if the Financial Gap Law is enacted. And if the banks lose, depositors inevitably lose too. The draft law places the full burden of repaying deposits on the banks alone — a move that would inevitably destroy the Lebanese banking sector and wipe out ...

Financial Restructuring: Fadi Khalaf Cautions Against a “Partial” Approach

This is Beirut, 08/12 13:00 - Reading : 1 minute(s)

Banks Lebanon ABL Central Bank of Lebanon

The Secretary-General of the Association of Banks in Lebanon (ABL), Dr. Fadi Khalaf, has cautioned that any financial restructuring confined to the banking sector is likely to fail unless accompanied by comprehensive state reform. In his editorial for the ABL’s November report, published Monday, Khalaf emphasized that Lebanon’s ...

Iraq Reverses Hezbollah, Houthi Asset Freeze, Calls It ‘Mistake'

This is Beirut, 04/12 11:25 - Reading : 2 minute(s)

Hezbollah Lebanon Banks Gulf United Kingdom Iraq Houthis

Iraq's central bank on Thursday said the appearance of Lebanon's Hezbollah and Yemen's Houthis on a frozen assets list was a mistake, and ordered the correction of the official announcement, according to a document seen by AFP. An official gazette issue dated November 17 published a decision about Iraq freezing the assets of ...

Fadi Khalaf: Lebanon Is on the Path to Economic Restructuring

This is Beirut, 27/11 18:10 - Reading : less than a minute

Fadi Khalaf Association of Banks in Lebanon Union of Arab Banks Banks

The Secretary General of the Association of Banks in Lebanon, Fadi Khalaf, stated that the country is beginning to return to the path of economic recovery, considering the return of the Union of Arab Banks to Lebanon as a promising sign of hope. However, he warned that the Lebanese State’s failure to comply with the conditions set by Arab ...

The Crisis, the State, and the Banks

Liliane Mokbel, 27/11 15:10 - Reading : less than a minute

Banks Lebanon Crisis IMF

The State must acknowledge its main share of responsibility in the crisis. Yet nothing suggests it is ready to do so. The political class opposes it, and the plan supported by the IMF also seeks to absolve those responsible at the expense of depositors.  

PM Hands Over the Drafting of the Gap Law to Kulluna Irada

This is Beirut, 25/11 11:00 - Reading : 1 minute(s)

Lebanon Economy Banks Nawaf Salam

This Is Beirut has learned that the legal committee tasked by Prime Minister Nawaf Salam—in coordination with Finance Minister Yassine Jaber—with drafting the financial gap law is composed of a three-member team operating within the orbit of the Kulluna Irada organization. The committee includes attorney Ali Zbib, Judge Rana Al-Akkoum, ...

Tech Firms Lead Stock Rout as AI Bubble Fears Linger

This is Beirut, 21/11 12:20 - Reading : 3 minute(s)

Banks New York USA Tech AI Bubble

Tech firms led stock losses on Friday as investors struggled to shake off fears about an AI bubble, and after a sell-off on Wall Street sparked by job data dealt a further blow to hopes for a US interest rate cut. A blockbuster earnings report from chip bellwether Nvidia on Wednesday seemed to settle nerves that vast investments in the artificial ...

When the IMF’s Agenda Takes Over Decision-Making, Depositors Foot the Bill

This is Beirut, 19/11 15:15 - Reading : 3 minute(s)

BDL Banks Lebanon Economy

A cautiously tense meeting brought together Finance Minister Yassine Jaber and a delegation from the Association of Banks in Lebanon (ABL), dedicated to discussing the points related to the Financial Gap Law. The talks focused on how the banks, the Lebanese state, and the Central Bank would handle the existing gap and on reassessing the banks’ ...

Naim Kassem Criticizes the State and “American Financial Tutelage”

This is Beirut, 17/11 18:05 - Reading : less than a minute

Lebanon Banks Hezbollah Israel

Hezbollah Secretary General Naim Kassem continued his comments on the Lebanese government, urging it to adopt a firmer stance toward Israel. During the first commemoration of the assassination of Mohammad Afif and his companions, he once again took it upon himself to remind the Lebanese state of its “responsibility” to put in place a “plan ...

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