THE beginning of a dialogue aimed at strengthening relations and including the expansion of activities by Lebanese banks in the
In a joint press conference held after a closed session, the two central bankers affirmed the intention for banking cooperation, in the form of expanding banking operations by Lebanese banks in the
"Lebanese banks can help restart the
The two governors also discussed measures to further fight money laundering and the restrictions on capital flow imposed by the Cypriot authorities.
The institution of a working committee of all three federations (the
Demetriades expressed the belief that the present crisis offered an opportunity to strengthen the bond between the two banking systems.
Salameh said there was room for Lebanese banks to expand their operations in
He said Lebanese banks had high liquidity and capital adequacy ratios, and thus were able to expand across national borders. Deposits in Lebanese banks add up to more than three times the country's GDP.
"That is why we have encouraged our banks, when presented with the opportunity, to expand their activities beyond
Salameh said that
The President of the Lebanese Banks' Federation
"We feel we owe a lot to
Send to Kindle
Most Popular Stories
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Ex-BP Employee Settles Insider Trading Charges
- Chobani Counters Competition With Expanded Lineup
- Unemployment Rates Down, Job Gains Up in March
- Hiring Fair for Veterans, Job Seekers
- Venture Investments in U.S. Highest Since 2001
- 8 Million Signups Put Obamacare Ahead of Predictions
- VW Beetle Marks 65th Year in U.S.
- Twitter Offers App Install Ads
- Lilo Comes Clean on Celebrity Sex List