Are there licenses for new banks?

In an interview with “Voice of All Lebanon,” economic expert Professor Jassem Ajaka pointed out that the acting Governor of the Bank of Lebanon, Wassim Mansouri, rejected what was known as the government’s plan to merge banks, considering that it was destroying the banking sector.

Ajaqa pointed out that Mansouri saw the reaction to the bank restructuring plan and therefore confirmed that he would not license new banks. He said: “Mansouri issued an internal warning to the political class regarding the financial situation, in parallel with the external warning issued by the World Bank.”

On the other hand, the economic expert confirmed that Lebanon has significant economic losses due to the events in the south and the events in Gaza. The most dangerous thing is that the country is facing an open scenario of confrontations, which will exacerbate the financial losses.

He pointed out that there is a large amount of cash in the Lebanese markets, considering that it is clear that there is activity that finances the monetary economy to show that things are good, but the truth is otherwise, adding that these groups cross sects and parties and are making profits. Ajaqa stressed that the incomes of expatriates do not cover this amount of cash.

Ajaqa believed that if the monetary reforms were not adhered to, Lebanon would be subject to new international sanctions.