BEIRUT: Central Bank Gov. Riad Salameh said Thursday that BDL will soon launch an electronic platform to enhance shares trading and international connections.
“Today we are approaching the launch of the electronic platform, which will allow communication between Lebanon and abroad, enabling it to attract funds from Lebanese and non-Lebanese, and will be operated by a private company controlled by the Capital Markets Authority,” Salameh told participants in a conference for World Investor Week.
He added that the CMA, in its approach to World Investor Week, had confirmed its full readiness, using the circulars it had issued and implementing regulations it has adopted in cooperation with the World Bank, to help set the framework for better regulation of capital protection.
“Lebanon needs to be more closely aligned with Lebanese investors in order to encourage them to buy shares in companies to expand investments and enhance exports. The mission of the CMA is to create confidence between investors and the companies they invest in,” Salameh explained.
“Lebanon is witnessing speculative transactions in the same currencies allowed under the title of freedom of circulation, even though this is of no use to the Lebanese economy,” the governor said.
He stressed that the institutions that deal with currencies should be ethical in their dealings.
“We would also like to have full disclosure of the risks involved in all financial transactions, especially in investment funds and financial instruments offered to investors,” Salameh said.
He added that CMA will launch media and educational awareness campaigns for investors. “We are planning to introduce curricula on these subjects [e-transactions] at schools and universities in view of their importance for the development of the economy in general,” Salameh said.