The Only Way to Avoid Complete Closure of Banks

Economic expert Louis Hbeika emphasized that the only way to avoid the complete closure of banks lies in negotiations and dialogue between the banks, which feel a certain animosity towards them, and both the Ministry of Finance, the Central Bank, and the government. Hbeika rejected the idea of succumbing to banks that seek an unsatisfactory version of capital control in its current form. Regarding the consequences of complete closure, he explained that the country still relies on the banking sector, albeit to a lesser extent than before, and therefore its closure will directly impact wage earners and account holders.