BDL vows deposit recovery
and independence from politics

Banks need to recapitalize, said new governor

Central Bank (BDL) governor Karim Souaid took office last Friday with a sweeping pledge to restore trust in the financial system, restructure the banking sector, and recover frozen deposits.

In his first address, he vowed to lead independently of political influence and to align the institution with international standards on combating money laundering and terrorism financing.

“We must work to gradually repay and restore all deposits,” Souaid said in his inaugural address. He said that BDL, commercial banks, and the State must each bear responsibility in returning depositors’ funds. “This process will begin with small account holders and progress toward medium and large depositors.”

A former asset manager Souaid said he will push for the recapitalization of banks, urging those unable or unwilling to do so to consider mergers. “We must rebuild trust in the banking sector and create incentives to revive the economy through legitimate financial and banking channels,” he said.

His roadmap also includes studying previous economic recovery plans, restructuring public debt, and implementing reforms requested by the international community—conditions widely seen as essential for unlocking much-needed international aid.