(The Daily Star/Mohammad Azakir)
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A leading banker warned Thursday against "moral hazards" if the government continues to burden the Central Bank with all the economic and financial problems facing the country.Ghobril also noted that a study by the World Bank states that 54 percent of Lebanese emigrants believe that the poor investment environment is the main obstacle to investing in Lebanon.Economist Ghazi Wazni repeated Ghobril's comments, saying that Lebanese remittances remained between $7.2 billion and $7.5 billion despite all challenges.He said that Lebanon's banking sector is facing several challenges. Another challenge, Wazni said, is the need to comply with international standards, as is the case with all banks worldwide."Moreover, interest rates in the U.S. are between 1 percent and 1.25 percent and they might reach 2.5 percent to 3 percent in coming years, which would impact interest rates adopted by BDL in Lebanon," he said, referring to the central bank by its initials. For his part, the Central Bank's Vice Gov. Saad Andari said that the banking system in Lebanon had adopted at least five principles of responsible banking.
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