Lebanon’s central bank plans new currency exchange platform via Bloomberg: Mansouri

Lebanon’s central bank is planning to introduce a new currency exchange platform through Bloomberg, the country’s acting central bank governor Wassim Mansouri said in an exclusive interview with Al Arabiya TV on Monday.

“On Wednesday, based on a request from the central bank, the cabinet’s agenda will include the establishment of an international exchange platform,” Mansouri said, adding that “the platform will be through Bloomberg’s own trading platform.”

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The central bank currently has its own exchange platform, known as Sayrafa, which it said it would be phasing out after concerns about transparency and unsustainability.

Lebanon’s economy has declined significantly from about $55 billion to $20 billion, Mansouri said, adding that the economic crisis would only be resolved through cooperation between the technical, legal, and political bodies in the country.

Mansouri also added that returning money to depositors was not impossible and that they should not wait any longer.

The acting governor assumed his position after Riad Salameh’s 30-year tenure.

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