Friday, May 6, 2011

New banking scandal in Lebanon?

Nothing could be more reassuring to bank customers than to maintain the confidentiality of their transactions. However, it seems that there is a banking scandal in Lebanon, where a number of banks are providing information on debtors to other parties. This represents a disaster that might threaten the banking system in Lebanon, reduce its credibility and raise fears among dealers with Lebanese banks.

Riad Salameh, Governor of the Bank of Lebanon
� 2011 Al Bawaba (www.albawaba.com)

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Source: http://www1.albawaba.com/main-headlines/new-banking-scandal-lebanon

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