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The Governor of the Banque du Liban, Riad Salameh, denied the news and stated that “any reduction in the ratios of mandatory reserves, if it occurs, will belong to the owners of the deposits in the Banque du Liban who are the owners of the banks. , and for no other purpose. “
Informed circles indicated to the Al-Binaa newspaper that reducing the legal reserve is one of the proposals and proposals that were presented for discussion in a series of governance meetings of the Bank of Lebanon with relevant government ministers and the Banking Association, and not it is a serious and final proposal. As for the objective, according to the circles, it is to find solutions to continue the subsidy policy for next year. Reducing the monetary reserves to release part of the bank’s dollars in the Central Bank of Lebanon or the gradual lifting of subsidies to basic products is the last option available to the Central Bank, especially from the data. What has been done with the presidential references confirming that there has been no government for months or more, since the priority is no longer to form a government since it has moved to take security, financial, economic and banking measures to maintain a minimum level of social stability in the vacuum stage, if the political and governmental crisis related to external developments is prolonged.
Al-Binaa learned that all the consultations and meetings that took place during the last two days in the Central Council, the Government Serail and the Association of Banks did not reach an agreement on this matter. It would increase the risk of financial operations in banks and could push the latter to be more strict with depositors ”. It was asked: “Have the banks applied circulars issued by the Banque du Liban that require banks to return a percentage of their capital that is abroad to Lebanon?
Economic and financial experts blamed the Bank of Lebanon, the banking sector and successive governments for the ongoing crisis, and asked, through “construction”, the Central Bank and the banks “to take immediate measures to recover the money transferred and smuggled. abroad for the past two years, raising the cash reserve ratio at the Central Bank of Lebanon and providing cash liquidity to banks to return funds. ” Depositors will gradually join better hedging of commodities and basic materials and reduce the dollar exchange rate.
