Lebanese banks are liquid but operating in a very strong 'wave of uncertain...
BEIRUT - Lebanese banks are liquid but operating in a very strong “wave of uncertainty”, the banking association head said, describing temporary controls introduced this week as “a fence to protect the system” until the situation normalizes.
He said a central bank request for banks to raise their capital by 10% by the end of 2019 was also unrealistic unless a new government was formed and a more positive climate emerged. “If the situation stays as it is, it is not realistic,” he said. “In view of the political situation, you need a certain fence to protect the system itself until the situation comes back to normal,” Sfeir said.
The Institute of International Finance has said deposits declined by more than $10 billion since the end of August. Half of this had been withdrawn from the country and the other half was being kept at home.
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