MP Fadlalah: Around 11 billion US dollars of banks funds are abroad

MP Hassan Fadlalah said on Thursday that the country’s liquidity crisis is related to the high cost of living caused by the high exchange rate of the Lebanese lira and the money of depositors.

Fadlalah’s comments were made during a press conference after the meeting of the Finance and Budget committee whereby he said that “around 11 billion US dollars of banks’ funds are abroad.”

On another note, the lawmaker said that the Banque Du Liban Governor Riyad Salameh does not have information about foreign transfers.

“An investigation should be launched into all operations related to these transfers,” he concluded by saying.