Lebanon
President Aoun and Saeed Review Monetary and Financial Conditions
President Joseph Aoun and Central Bank Governor Kareem Saeed discussed monetary and financial conditions, stressing the importance of maintaining monetary stability and enhancing coordination between the central bank and the government. They also reviewed deposit repayment mechanisms and progress on financial and banking reforms, including the bank restructuring draft law.
President of the Republic, General Joseph Aoun, discussed with the Governor of the Bank of Lebanon, Kareem Saeed, the monetary and financial conditions, emphasizing the importance of preserving monetary stability and enhancing close coordination between the Bank of Lebanon and the government regarding financial commitments, so as to ensure the proper functioning of public utilities.
The discussion also addressed the Bank of Lebanon's continued implementation of deposit repayment mechanisms for depositors in accordance with the applicable circulars, consistent with the approach adopted to protect depositors' rights within the existing legal and regulatory frameworks.
Saeed briefed President Aoun on the progress made in the financial and banking reforms, particularly the bank restructuring draft law, which is expected to complete its discussion and approval in the competent parliamentary committees early next week, ahead of its final approval in the General Assembly of the House of Representatives shortly thereafter.
