Lebanon Central Bank Plans New Exchange Platform via Bloomberg

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
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Lebanon Central Bank Plans New Exchange Platform via Bloomberg

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon's central bank is seeking to introduce a new currency exchange platform through Bloomberg, acting central bank governor Wassim Mansouri said on Monday in an interview with Saudi-owned Al-Arabiya television.
The central bank had already said it would phase out its own exchange platform, known as Sayrafa, and was considering Bloomberg as a substitute following concerns about Sayrafa's lack of transparency and governance, Reuters reported.
"On Wednesday, based on a request from the central bank, the cabinet's agenda will include the establishment of an international exchange platform," Mansouri said, adding that it would be through Bloomberg's trading platform.
Sayrafa was set up in May 2021, 18 months into Lebanon's economic meltdown. It was widely recognized as a way for the central bank, also known as BdL, to stabilize the Lebanese pound, which nevertheless continued to decline.
Lebanese authorities and international institutions have criticized Sayrafa for its lack of transparency, unsustainability and the opportunity it created for arbitrage, particularly as the gap grew between Sayrafa's and the parallel market.
The World Bank said buy-side Sayrafa participants may have made as much as $2.5 billion through arbitrage trades.



Hamas Says Israeli Female Hostage Killed in North Gaza Area Hit by Israel

Relatives of Israeli hostages held in Gaza since October 7 protest outside the Defense Ministry headquarters in Tel Aviv on April 25, 2024. (Photo by JACK GUEZ / AFP)
Relatives of Israeli hostages held in Gaza since October 7 protest outside the Defense Ministry headquarters in Tel Aviv on April 25, 2024. (Photo by JACK GUEZ / AFP)
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Hamas Says Israeli Female Hostage Killed in North Gaza Area Hit by Israel

Relatives of Israeli hostages held in Gaza since October 7 protest outside the Defense Ministry headquarters in Tel Aviv on April 25, 2024. (Photo by JACK GUEZ / AFP)
Relatives of Israeli hostages held in Gaza since October 7 protest outside the Defense Ministry headquarters in Tel Aviv on April 25, 2024. (Photo by JACK GUEZ / AFP)

A spokesperson for Hamas' armed wing said on Saturday that a female Israeli hostage had been killed in an area of northern Gaza that had been struck by Israeli forces.

Earlier this week, Israeli Prime Minister Benjamin Netanyahu said that Israel was offering a reward of $5 million to anybody who brings out a hostage held in Gaza.

"Anybody who brings out a hostage will find with us a secure way for them and their family to leave" Gaza, Netanyahu said in a video filmed inside the Palestinian territory, according to his office.

"We will also give them a reward of $5 million for each hostage."