The announcement lifted shares in the sector by as much as four percent in early trading. Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote.
Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors. The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule.
Key details
A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors. Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli.
“Nobody wants a repeat of 2019, and that concentrates minds.”
Bankers who spoke to Beirut Financial described the mood as cautiously optimistic, with liquidity improving month on month. The announcement lifted shares in the sector by as much as four percent in early trading.
Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
Background
The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
The announcement lifted shares in the sector by as much as four percent in early trading. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote.
