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Central Bank To Introduce Digital Currency To Lebanon In 2021
If you thought “el Lira bi alf kheir” was the height of denial, think again.
Amid Lebanon’s unprecedented economic and financial crisis and the enforcement of severe capital control measures, Central Bank governor Riad Salameh has announced that Banque du Liban plans to introduce a digital currency in 2021 to “restore confidence in the banking sector” and transition into a cashless system.
Cash-less is indeed a way to describe our system right now, don’t you think? There a billion other things they can start with to restore confidence in the banking system, the first being handing over the required documents for the forensic audit. But sure, let’s go with Salameh’s plan.
“Lebanon doesn’t have any natural resources, and we have to keep the gold because it’s an asset that could be liquidated in foreign markets if we face an inevitable, fateful crisis,” Salameh said.
We’re not sure what the people over at the central bank are smoking, but we sure would like some.
Lebanon’s central bank plans to introduce a digital currency next year to restore confidence in the banking sector, the governor says https://t.co/Aa3Oiqw0cq
— Bloomberg (@business) November 10, 2020
Amid Lebanon’s unprecedented economic and financial crisis and the enforcement of severe capital control measures, Central Bank governor Riad Salameh has announced that Banque du Liban plans to introduce a digital currency in 2021 to “restore confidence in the banking sector” and transition into a cashless system.
Cash-less is indeed a way to describe our system right now, don’t you think? There a billion other things they can start with to restore confidence in the banking system, the first being handing over the required documents for the forensic audit. But sure, let’s go with Salameh’s plan.
“Lebanon doesn’t have any natural resources, and we have to keep the gold because it’s an asset that could be liquidated in foreign markets if we face an inevitable, fateful crisis,” Salameh said.
We’re not sure what the people over at the central bank are smoking, but we sure would like some.
