Lebanon's Central Bank Governor Elected Chair of Arab Monetary Fund Board

President Joseph Aoun welcomed Bank of Lebanon Governor Dr. Karim Said to Baabda Palace this afternoon, where the two discussed the proceedings and outcomes of the Arab Monetary Fund's Board of Governors meeting, including details surrounding Said's recent election to the chairmanship.

Aoun extended his congratulations to the central bank chief, characterizing the appointment as holding "very important significance, particularly during this delicate period as Lebanon pursues economic advancement and financial system reform."

The president emphasized that Said's elevation to lead the Arab Monetary Fund's board represents "solid Arab confidence in Lebanese competence" and demonstrates Lebanon's sustained engagement with Arab and regional financial institutions despite the severe economic and financial hardships the nation currently endures.

Aoun underscored that the Arab world's confidence in Said reflects recognition of his contributions to financial reform efforts, and that this election provides meaningful encouragement for the economic recovery program the Lebanese government is pursuing.

Said responded by thanking the president and pledging that in his new role he would represent "Lebanon's image and interests." He committed to deepening ties with Arab financial institutions to support Lebanon's economic recovery and rebuild confidence in the Lebanese financial system.

The central bank governor noted that Lebanon confronts substantial financial and economic obstacles stemming from the ongoing conflict and the persistent economic crisis. He stressed the necessity of Arab cooperation in advancing financial progress and restoring confidence in the financial and banking sectors.

Said's election arrives at a pivotal moment for Lebanon as the state pursues financial and banking sector reforms and seeks to restore relations with Arab and international financial institutions, all while contending with mounting economic pressures and the war's continuing effects on monetary and financial conditions.