CONTRIBUTION TO THE LEBANESE GOVERNMENT’S FINANCIAL RECOVERY PLAN

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CONTRIBUTION TO THE LEBANESE GOVERNMENT’S FINANCIAL RECOVERY PLAN
الأربعاء 20 مايو, 2020

This document (“Contribution”) is submitted by the Association of Banks in Lebanon (“ABL”) for discussion purposes with the Lebanese Government and all concerned parties, including professional and trade associations, in order to reach a consensus on a strategy that is in the best interest of the country, the depositors and the people of Lebanon. It outlines some of the ABL’s views, ideas and suggestions in response to the present economic crisis that Lebanon, and particularly the banking sector, is experiencing. Nothing in this document shall be deemed to include any representation, undertaking or warranty by either the ABL or any of its individual members and all data included herein reflects the information available to ABL, which has not been independently verified or audited, and no responsibility is accepted as to the accuracy, reliability or completeness of such information or as to the reasonableness of any assumptions.

The Contribution does not constitute a legal, binding document presented by the ABL or any of its members. It is not a waiver of any rights of any kind by any financial institution operating in Lebanon against any third party. Each of the ABL members expressly reserve the right to accelerate and demand all their rights against the Republic of Lebanon, the Central Bank or any third party.

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