Lebanon Central Bank Plans to Introduce Digital Currency in 2021


Lebanon plans to introduce a digital currency next year to restore confidence in the banking sector and transition into a cashless system, GovernorRiad Salameh said.

He also urged banks to begin restructuring, including recapitalization by 20%.

“Lebanon doesn’t have any natural resources and we have to keep the gold because its an asset that could be liquidated in foreign markets if we face an inevitable, fateful crisis,” Salameh was cited as saying by the state-run National News Agency.

Source: https://www.bloomberg.com/