Talal Eid wrote in Markazia:
It is expected that the Council of Ministers will approve, in its session tomorrow, the creation of the BDL platform for trading in cash, Bloomberg, especially the Lebanese pound, the US dollar, stocks, currencies, metals, and other financial instruments, and it is available to everyone, and not exclusively to a specific group.
The new platform is an alternative to the exchange platform, which stopped at the end of last July, after Wassim Mansouri took over the governorship, succeeding the former ruler, Riad Salameh, provided that work begins at the beginning of next October, in the event that the technologies and mechanisms for that are arranged in terms of transparency and organization.
Informed financial sources told Al-Markaziya that “the Banque du Liban will not intervene, selling dollars, as it used to happen on its platform, which threatened the compulsory reserve, but rather will intervene when necessary, selling or buying, like other traders on the platform.”
And remember that this platform “will make it possible to control any speculation that may occur and reduce the cash economy, which is the demand of financial institutions that demand a reduction in the size of this economy, which constitutes a great threat to Lebanon’s position in front of these institutions, and therefore this platform is supposed to play a prominent role in this regard and the issue of trading in currencies and stocks.” .
However, the Association of Banks went on to emphasize other platforms, as the Secretary-General of the Association, Fadi Khalaf, indicated that Lebanon has a platform that can be used to trade the dollar, which is the “Beirut Stock Exchange” that operates with a global trading system. Able to secure the normal circulation of dollars through transparent and easy methods in a very short period.
2023-09-06 13:22:09
#Bloomberg #platform #tomorrow.. #change
