Secretary General of Banks Association: Lebanon Is the Champion of the Guinness World Records Group

Secretary General of Banks Association, Fadi Khalaf, considered that the crisis of the three banks has prompted relevant authorities in the United States to take the necessary and utmost swift action to address the situation and avoid a crisis similar to that of Credit Suisse in Switzerland.

"The authorities involved kept their meetings open throughout the weekend until they were confident that the crisis had been addressed and the situation had been brought under control before returning to work at the beginning of the following week," he said.

"Lebanon is the champion of the Guinness World Records group. If the International Monetary Fund were to study the Lebanese crisis, it would tell us that it is unprecedented," he indicated.

He noted that Lebanon is the only country in the world capable of living with a presidential vacuum multiple times and for years without batting an eyelid.

"At the beginning of the crisis, BDL's budget showed the existence of approximately 31 billion dollars in foreign currencies, of which 22 billion dollars have been disbursed so far. If this amount had been returned to depositors at that time, it would have covered the majority of accounts and provided restitution to hundreds of thousands of depositors," he pointed out.