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Torbey: Lebanon gradually applying Basel III guidelines

Torbey: Lebanon gradually applying Basel III guidelines

The Lebanese banks will gradually and moderately apply Basel III recommendations to reduce risk management, the head of the Association of Banks in Lebanon, Joseph Torbey, said Friday.

“We have applied most of the recommendations of Basel I and II over the past few years and we intend to do the same in Basel III with the help of the regulatory and monetary authorities,” Torbey said. These remarks came during a lunch hosted by the association in honor of high ranking Turkish delegation which is visiting Lebanon

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