LBCI

Salameh: Banks that can't increase capital must leave market

27-08-2020 | 13:35

Share

Share

Salameh: Banks that can't increase capital must leave market

Lebanese banks that cannot increase their capital by 20% by the end of February 2021 will have to get out of the market, Central Bank Governor Riad Salameh told Reuters on Thursday.

Those leaving would do so by giving their shares to the central bank and deposits would be preserved because there would be no "bankruptcy situation," Salameh said. He said he could not speculate how many banks would exit the market.

The central bank's foreign currency reserves stand at $19.5 billion and obligatory reserve at $17.5 billion, he said.

Salameh added that he could not say how long the central bank could keep subsidizing essential imports and that Lebanon was "not about to float the currency."

REUTERS

Breaking Headlines

Lebanon News

Riad Salameh

Banks

Central bank

Economy

Next

Lebanon's Youth and Sports Minister Nora Bayrakdarian reinstates legitimacy of Gymnastics Federation

Recommended For You

Gaza’s roadmap meets Lebanon’s reality: What comes first, Israel’s withdrawal or disarmament?

News Bulletin Reports

13:15

Gaza’s roadmap meets Lebanon’s reality: What comes first, Israel’s withdrawal or disarmament?

Lebanon orders handover of ex-Syrian general Adel Issa to Syrian authorities

08:27

Lebanon orders handover of ex-Syrian general Adel Issa to Syrian authorities

President Aoun: Lebanon welcomes Canadian support for return of southern residents

06:14

President Aoun: Lebanon welcomes Canadian support for return of southern residents

Fuel prices slightly change across Lebanon

Lebanon Economy

03:28

Fuel prices slightly change across Lebanon

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

PM Salam marks one year in office: Lebanese government laid foundation for rebuilding the state

2026-02-26

PM Salam marks one year in office: Lebanese government laid foundation for rebuilding the state

Israel's Adraee issues evacuation warning for Tyre and surrounding areas

2026-05-27

Israel's Adraee issues evacuation warning for Tyre and surrounding areas

Lebanon’s health ministry says 12 killed, 41 injured in Israeli strikes on Beirut areas

2026-03-18

Lebanon’s health ministry says 12 killed, 41 injured in Israeli strikes on Beirut areas

Spain shuts airspace for US planes involved in Iran war

2026-03-30

Spain shuts airspace for US planes involved in Iran war

Videos

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Most read

24 hours

7 days

Month

Lebanon orders handover of ex-Syrian general Adel Issa to Syrian authorities

1

Lebanon orders handover of ex-Syrian general Adel Issa to Syrian authorities

President Aoun: Lebanon welcomes Canadian support for return of southern residents

2

President Aoun: Lebanon welcomes Canadian support for return of southern residents

Gaza’s roadmap meets Lebanon’s reality: What comes first, Israel’s withdrawal or disarmament?

3

Gaza’s roadmap meets Lebanon’s reality: What comes first, Israel’s withdrawal or disarmament?

Fuel prices slightly change across Lebanon

4

Fuel prices slightly change across Lebanon

Rebels accuse Ethiopia govt of drone strike near Tigray capital

5

Rebels accuse Ethiopia govt of drone strike near Tigray capital

UAE says Iran launched two missiles at it

6

UAE says Iran launched two missiles at it

UAE says seek shelter, warns of 'potential missile threats'

7

UAE says seek shelter, warns of 'potential missile threats'

Airstrikes target military airbase in northwestern Syria, security source tells AFP

8

Airstrikes target military airbase in northwestern Syria, security source tells AFP

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More