Lebanon banking group rejects latest draft of financial recovery plan ...Saudi Arabia

ARAB NEWS - News

Author: Sun, 2022-04-24 00:40 BEIRUT: The Association of Banks in Lebanon said on Saturday it “completely rejects” the government’s latest draft of a financial recovery plan meant to pull the country out of an economic meltdown. In a statement shared with Reuters, the ABL called the plan “disastrous” and said it would leave banks and depositors shouldering the “major portion” of losses. The government estimates that the financial sector’s losses amount to $72 billion. “ABL has assigned its legal advisers to examine and present a range of judicial measures that will allow the preservation and recovery of the rights of the banks and the depositors,” the association said. Lebanon’s banks h

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Last updated : 24 April 2022 clock 01:14 AM

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Lebanon banking group rejects latest draft of financial recovery plan ...Saudi Arabia

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