Banks deny stoppage
in transfers from Saudi

Media reports are groundless

The Association of Banks in Lebanon (ABL) denied any halt to remittances between Lebanon and Saudi Arabia, or any other Gulf country.

Press reports have announced that remittances between Lebanon and Saudi Arabia have stopped, quoting unnamed bank sources, and that the management of banks have informed their branches.

The ABL said: “This report has no grounds, as banking transactions between Lebanon and the Arab Gulf, especially Saudi Arabia, is operating in a perfectly normal fashion in both directions.”