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Lebanese central bank moves to spur lending
- Lebanon: Sunday, January 20 - 2013 at 04:17
Lebanese banks have been told by the country's central bank to set aside $1.45bn to activate lending to the productive sectors with low interest rates and up to 10 years maturity, The Daily Star has reported. According to the new regulations, the Central Bank will give credit facilities to commercial banks with 1% interest, allowing the banks to provide soft loans to applicants with an interest rate not exceeding 5 to 6%. Lebanese banks have one of the highest liquidity ratios in the world and many leading bankers have repeatedly said the excess cash is waiting for new investments in the country.
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