Lebanese minister: Fixing Lebanon’s banking system

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Transcript

00:00You see, some people think that we are out to really get all the banks or bring new banks

00:05from abroad. It's not true. We want actually our banking system to be back healthy and operating

00:12properly. But when we see consolidations? Yeah, this is a process. It might be consolidation,

00:19it might be recapitalization. Everything is allowed, you see, and it's all in the law.

00:24But we need a banking system. You know, we are today, unfortunately, on the gray list of fat.

00:32Do we want to be there? Of course we don't want to be there. And do we want to remain like this and

00:37go to the blacklist? We don't want to be there. But how do we get out of that list? We need a

00:41banking system because we are there. We are accused of being a cash economy. But do you think the

00:47Lebanese like to have cash at home? Of course not. It's risking your life and your money. So we want

00:53to go back to a normal banking system, get the money back. It's not only that we will get off

00:59the gray list. It's also all this money, which they say is billions, stashed at home, goes back

01:07to the banking system.