President of Lebanon’s Association of Banks, Dr. Joseph Torbey, said that the banking sector was the strongest in the country, describing it as “one of the most important banking sectors in the world and the most successful sector in the Arab region.”
President Michel Aoun met with Torbey at the Baabda Palace on Thursday, with whom he discussed the country’s financial and banking situation.
In remarks following the meeting, Torbey said: “The banking sector has managed to maintain its liquidity levels and deposits. Despite doing so at a higher cost, the current situation still creates future confidence; no matter how volatile the circumstances are, the Lebanese banking sector remains the strongest.”
He continued: “It is important for the Lebanese people to know that the banking sector in Lebanon is among the most important in the world. It is the most successful sector in the Arab region and it is a strategic pillar for the prosperity of Lebanon's economy.”
Torbey noted that talks with Aoun touched on the pressing need to accelerate reforms in the electricity sector. He also said that the elections of the Association of Banks will be held on June 29.
