Lebanese banking association head says depositors’ money is safe, no need for panic

BEIRUT (Reuters) – Lebanese depositors’ money is safe in the banks and there is no need for panic, Salim Sfeir, the head of the Association of Banks in Lebanon, said in a press conference on Saturday. Funds for medicine, fuel and wheat imports were also secured, local media al-Jadeed cited economy minister Mansour Bteich as saying. Their remarks came after a meeting between President Michel Aoun, the ministers of finance and economy, the central bank governor and other officials over the economic situation in the country.

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