Governor of the Lebanese Central Bank (BDL), Riyad Salame, avowed on Wednesday that Lebanon has met all the international financial conditions, in terms of both the legislations and practice.
During his participation in Iraq Banks Forum, Salame indicated that BDL had always endeavored to maintain the best of ties with its Arab counterparts, especially with the Iraqi central bank, considering the importance of those relations in the exchange of banking techniques.
According to him, such rapprochement had positive returns on the national economy of Lebanon and Iraq.
He explained that the Lebanese banking system was established upon financial legislations compliant with the international requirements, and that the relevant practices were in turn in agreement with good management rules; something that, according to him, preserves the integration of the Lebanese banking system in the financial globalization.
Salame added that the Lebanese banking system was also based upon coordination, and organization and monitoring services.
He lastly reminded that the Financial Action Task Force (FATF) previously announced that Lebanese had met all the requisite conditions relevant to the banking activities.
Source: National News Agency