KSA relations are fine

Salameh denies rumors of deposits flight

Business ties between Lebanon and the Gulf Cooperation Council (GCC) countries were untouched by regional political adversities, business leaders reassured following their recent contacts with GCC officials.
A delegation of business leaders who recently visited Saudi Arabia (KSA) quoted Saudi officials as denying rumors that Lebanese expatriates there could lose their jobs due to the deterioration of political relations between the governments of the two countries.

Mohamad Choucair, Chairman of the Federation of Chambers of Commerce, Industry and Agriculture, said: "The Saudi government is keen on preserving bilateral ties.”
Choucair said he will head another delegation of businessmen to the KSA on Saturday (March 16): “The purpose of this visit will be to sign a number of agreements between the Chamber of Commerce of Beirut and Mount Lebanon and the Chamber of Commerce of Jeddah.”

Riad Salameh, Governor of the Central Bank, also denied that Gulf nationals have been withdrawing their deposits from local banks. He said deposits in the banking sector have increased in the past few months. Salameh is scheduled to undertake a GCC tour in the coming weeks with stops in Abu Dhabi, Dubai, and Riyadh.