Lebanese Banks to help Finance Iraq Reconstruction

By John Lee.

The head of the Association of Banks in Lebanon (ABL) has said that Lebanese banks are willing to help finance the reconstruction drive in Iraq.

Joseph Torbey told a banking forum in Beirut that with assets of close to $200 billion, his members were "capable and ready to be a partner in the reconstruction, through direct finance within the legal ceilings and through the attraction and management of joint financing operations.

He added that Lebanese banks were among the first to enter Iraq, and are the most active among all foreign banks.

(Source: Daily Star)

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