Banking risk expert Muhammad Fahili believes that the rising dollar exchange rate has rendered banking platforms meaningless. He also added that the Bank of Lebanon is unable to take any action, and supply is unlikely to meet demand during Ramadan, save for the emergence of aid. The responsibility for this, according to Fahili, lies with the political authority, and all its components. Economic journalist Ali Noureddine echoed this sentiment, stating that the repercussions of the banks’ strike have been catastrophic, and believing that the dollar’s price will continue to rise in the coming days. On the issue of investigations involving Banque du Liban governor, Riad Salameh, Noureddine believes that domestic parties now prefer to try him in Lebanon instead of abroad. However, there is a fear that Salameh could “burn” power due to his knowledge of financial engineering and secrets, and he could be a risk to the financial system in Lebanon.
Banking risk expert, Muhammad Fahili, considered that “a banking platform has become meaningless with the continuous rise in the exchange rate of the dollar.” He said: “The Bank of Lebanon cannot do anything, and one hand cannot applaud, but I expect that the supply of the dollar will increase over demand during the month of Ramadan with the emergence of aid.”
In an interview on “Al-Jadeed” channel, today, Sunday, Fahili stressed that “the political authority, with all its components, bears the responsibility for raising the exchange rate of the dollar.”
In turn, the economic journalist Ali Noureddine saw that “the repercussions of the banks’ strike on the exchange rate of the dollar are catastrophic,” expecting that the pace of the dollar’s price will continue to rise in the coming days.
Regarding the file of investigations with the Governor of the Banque du Liban, Riad Salameh, Noureddine said: “There is a shift in the authority’s position in dealing with the Salameh file, as the parties to the authority prefer to try the latter in Lebanon rather than be tried abroad.” He added: “There is a Lebanese fear that Riad Salameh will be a ram.” He is a burner of power, and he is a person familiar with all the financial engineering, and he is the storehouse of the power’s secrets, and the system is afraid of persecuting him.”
He concluded, “We are on the verge of prosecuting Riad Salameh, and there will be additional risks to the financial system in Lebanon.”
The continuous rise in the exchange rate of the dollar has become a major concern for the banking industry in Lebanon. Experts like Muhammad Fahili stress the responsibility of the political authority in managing the situation, with the banking industry feeling the repercussions of the ongoing crisis. The economic journalist Ali Noureddine expects that the pace of the dollar’s price will continue to rise in the coming days, with additional risks to the financial system in Lebanon. The situation is precarious, and it remains to be seen how the authorities will deal with the challenges ahead.