This afternoon, a delegation from the Board of Directors of the Association of Banks in Lebanon headed by Dr. Salim Sfeir held a meeting with His Excellency the Governor of the BDL (Central Bank) Mr. Riad Salameh, during which they discussed the recent measures taken to set ceilings for cash withdrawals in LBP from the Central Bank. There was an agreement on the following:

1- These measures are by nature temporary, and are usually taken by central banks in exceptional situations to combat inflation and the excessive rise in the prices of goods and services, without failing to meet the needs of the local market for liquidity.

2- Insuring the liquidity needed by the Lebanese market and bank clients, without being limited to cash.

3- Encouraging citizens and bank clients to use other payment tools available through the banking system, such as credit cards, checks and bank transfers.

4- Call upon clients to understand the reasons behind these temporary measures that can contribute to the regulation and control of the Lebanese market.