Lebanon's Central Bank Chief Tackles Financial Reform

The new governor of Lebanon's central bank, Karim Souaid, focuses on combating money laundering and terrorism financing. In a press conference, he emphasized the need to reschedule public debt and ensure repayments to depositors, signaling an agenda of financial reform and stability.

Lebanon's central bank is charting a new course under the leadership of Governor Karim Souaid. At a press conference on Friday, Souaid announced a strong stance against money laundering and terrorist financing, issues that have long plagued the nation's financial sector.

Addressing reporters, the newly appointed governor outlined his strategic priorities, highlighting plans to reschedule public debt—a pressing concern for Lebanon as the country grapples with an economic crisis. He also assured that efforts would be made to pay back depositors, aiming to rebuild trust in the embattled banking system.

With these measures, Souaid seeks to stabilize Lebanon's faltering economy and improve financial sector governance. Proactive financial management appears to be central to his reform agenda.

(With inputs from agencies.)