Safadi Denies Saudi Investors Withdrew Deposits from Banks

إقرأ هذا الخبر بالعربية W460

Finance Minister Mohammed al-Safadi denied on Saturday that Saudi investors pulled deposits from Lebanese banks.

“The Lebanese banking system guarantees the free movement of capital and confidentiality, therefor, investors have the right to manage their money however they like,” Safadi said.

The minister pointed out that there are no financial, security or political fears that threaten Saudi deposits in Lebanese banks.

“The Saudi kingdom supports political, security and financial stability in Lebanon,” Safadi added.

On Friday, head of the Economic Committees Adnan Kassar denied the rumors that investors have pulled $1 billion of their deposits from Lebanon.

“Media should be careful in reporting accurate, objective and credible news away from any rumors,” he said.

Kassar stressed the importance of preserving the ties between Lebanon and the Gulf states after the Gulf Cooperation Council expressed “great concern” over the government's failure to abide by the Baabda Declaration.

The Baabda Declaration was sponsored by Suleiman and calls for different parties to adhere to the disassociation policy to avoid the spread of the unrest in Syria to Lebanese territories.

Media reports said the deteriorating ties will affect the interests of Lebanon in GCC states including the conditions of around 600,000 expatriates in the Gulf.

Lebanese parties are sharply divided over the crisis in Syria as the March 8 alliance continuously expresses its support to Syrian President Bashar Assad, while the March 14 camp backs the popular revolt.

Comments 9
Default-user-icon + oua nabka + (Guest) 09 March 2013, 12:51

with all my due respect to all foreign investors in lebanon which have a great deal of prosperity for our economy
but the real pillar for our econnomy are the lebanese diaspora wich sustained lebanon since our independance
god bless lebanon and true lebanese

Thumb jcamerican 09 March 2013, 13:14

Where are they going to take their money, there are revolutions everywhere in the arab world. Lebanon will be their safest bet. During the civil war years, banks in Lebanon survived.

Missing 09 March 2013, 15:27

Jcamerican - do you really believe that they have no other place to put their money? Do you believe that Lebanon can bail out its banks if they get into trouble? Let us not be childish here. People may support the iran/syria axis on principle but to claim that we are indispensible is wrong. Lebanon is a small divided country. We have been lucky thus far that none of the major players wants the situation to blow up.

Thumb geha 09 March 2013, 14:02

never Lebanon was under such critical occupation even when the isrealis invaded us.
this is a logical turn of events, and I would not be surprised if it is really happening.

Missing 09 March 2013, 15:23

Please stop this "shia" this and "shia" that. You have a good point about where lebanon economic interest happens to be. Why totally dicredit yourself with sectarian talk. This is nothing to say about inciting Fitna among Lebanese.

Missing hamoody 09 March 2013, 21:04

It's not fitnah, it's the truth,

Thumb geha 09 March 2013, 17:19

the phoenix
I beg to differ with your comments:
- we are facing an Iranian invasion, that we need to counter anyway possible.
- the monetary weapon is being used by iran to buy Christian land in masses never seen before to create the buffer region you are talking about.
- do you expect from the Gulf states to help the Lebanese economy under such threats?
the only way I see things unfolding is through a war that will be really destructive.

Thumb geha 09 March 2013, 18:56

the problem is twofold:
- sunnis believe in Lebanon as a country and moderates ones should be preserved and we need to assist them in staying the course to counter the extremists that are rising among them due to the actions of hizbushaitan in taking over sunni representation and so forth.
- the shia and fpm are playing to the extreme the sectarian strife to control the country to execute the Iranian agenda on our soil, and they need to be fought at whatever price.
staying idle is not going to remain an option and each of us will have to take side.
do we side with Lebanon as we know it or follow iran/hizbushaitan/fpm?

Missing beirutbastard00 10 March 2013, 22:13

*is the "Mecca"...