Demetriades was speaking during a joint press conference with the Governor of the
The purpose of the meeting was to start a dialogue between the two banking systems with the aim of strengthening relations.
The two centralbankers also discussed regulatory issues relating to cooperation between the two bodies, measures to strengthen anti-money laundering, and the restrictive measures imposed by the Cypriot authorities.
Responding to questions, Riad Salameh expressed the belief that "there is room for expansion for Lebanese banks in
He said that "the Lebanese banks enjoy today high and free liquidity and they have good capital adequacy so there is possibility to expand outside
As he said, "
"We believe that as
On his part, Panicos Demetriades expressed the belief that that "the current crisis offers new opportunities for strengthening and furthering the links between the two banking systems".
"There are opportunities relating to the strength of the Lebanese banking system which could benefit Cypriot banks in the form of helping to support trade finance that has been a problem in recent months for Cypriot companies", he added.
He noted that "the Lebanese banks could help to reactivate the Cypriot economy and economic recovery of
Demetriades said, "there is a willingness of behalf of
"We are ready to support case by case our friends bankers and collaborate with them for their need for letter of credit and letter of guarantees" he said, adding that Lebanese banks have 9 branches in
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