Head of the Kataeb’s Economic and Social Council Jean Tawile on Monday commented on Third Vice-Governor of Banque Du Liban speech in which he said that “Sayrafa exchange platform is a financial and economic need and a first step towards liberalizing the exchange rate”, pointing out that Sayrafa was established three years ago after several failed attempts and it is not a “first” step.

“Sayrafa’s goal is truly to liberalize the exchange rate, but it cannot be achieved by imposing conditions. The idea of this platform is important as it facilitates trading in foreign currencies, but there is one group that buys and sells, which is the Central Bank. It is using the deposits of customers, the evidence is the decline in reserves to less than 10 billion. These interventions are still ongoing and the biggest beneficiary is the banks," Tawile said in an interview with Voice of Lebanon radio station.

“This platform was created for short-term political reasons to postpone reforms in the financial sector and to increase the profits of banks. Therefore, the Lebanese citizen is the one who is paying the price,” he went on saying.

"Sayrafa financial operations are unfair, arbitrary, and unconstitutional. Therefore, this platform must be transparent, with no conditions or restrictions on any transaction,” he added.

"Current developments aim at delaying reforms and escaping responsability," he stressed.

He further stated that the International Monetary Fund's latest report indicated that Lebanon would reach point of no return due to the mismanagement of the financial crisis.