Middle East Economic Survey


No 28



ABL Calls On Lebanese Banks To Cut Interest Rates

The Association of Lebanese Banks (ABL) has once again called on all commercial banks in Lebanon to reduce interest rates on both dollar and Lebanese pounds credit facilities, following an earlier recommendation adopted on 18 June to gradually decrease rates on deposits in Lebanese pounds to a ceiling of 8% (MEES, 27 June). In a statement on 5 July, the ABL recommended that average...