The Union of Arab Banks revealed that Lebanese banks have started adopting advanced steps to recover by feeding themselves with "fresh money" from abroad and thus securing the requirements of the Lebanese Central Bank.
According to the union, the Lebanese banking sector is making self-efforts in the absence of any rescue plans for the Lebanese government, praising the move of BLOM Bank to sell its unit in Egypt to secure an increase in capital and thus secure the required amount of liquidity increase.
It also indicated that BLOM Bank’s move is an advanced step to implement the circulars of the Banque du Liban in order to restructure the Lebanese banking sector, and it is a pioneering initiative in this field to restore the distinguished role of Lebanese banks locally, regionally and internationally.
The Union of Arab Banks hoped that the rest of the Lebanese banks would follow the example of "BLOM Bank" by increasing its capital, revealing that all indications are that Lebanese banks will increase their capital.
Source (Ad-Dustour Newspaper-Jordan, Edited)
