| 27 February 2024, Tuesday |

Riad Salameh is keen about “Sayrafah’s” success

Banking sources confirmed that the Governor of the Central Bank Riad Salameh is eager about Sayrafah’s platform success, because he has taken several restrictive measures against some exchange dealers who are from the first category.

It was obvious for the Central Bank that the figures referred regarding currency trading do not match with the reality, and some operations have not been mentioned. This will be revealed by the Higher Banking Authority, which will begin investigations with these exchange dealers, and will impose penalties in case of violation.

Sources considered that Salameh insists on the success of the platform as he adheres to trading dollar at 12,000 LBP, while it is traded on black market at 15,000 LBP. Daily pricing has been applied, while it was taking two days before, and this will help importers and traders in taking quick decisions instead of waiting for two days.

Banking sources confirmed that “talking about the ineffectiveness of this platform is unjustified and confusing, especially that the Central Bank has interfered to sell the dollars after the question was who would sell it.”

Sources also refused to consider this platform unnecessary, because trading reached $35 million last week. The new measures taken by the Central Bank will benefit the platform, especially since the Central Bank keeps pace with the monetary and banking movement and acts as an “orchestra leader.” He manages banking and monetary work through its circulars or through the measures taken.”

  • Sawt Beirut International