The Lebanese Council of Ministers appointed today, Thursday, banking and expert in the field of wealth management, Karim Saeed, a new ruler of the Central Bank, according to the Lebanese National Media Agency.
The bank of the Bank of Lebanon is a sensitive position in a country that needs important reforms requested by the international community.
The agency stated that “the cabinet appointed Karim Saeed as the ruler of the Bank of Lebanon”, succeeding Riyadh Salama, the arrested person, for accusing him of cases of embezzlement of public funds, which ended in the year 2023.
He voted in a session of the cabinet 17 out of 24 ministers in favor of Saeed.
Saeed is expected to contribute to restructuring the commercial banking sector and distributing the estimated losses of about 72 billion dollars resulting from the financial collapse in Lebanon, which most Lebanese impoverished and destroyed the local currency.
The Lebanese press published some information about the governor of the new bank, and stated that he is a prominent figure in the field of banking and financial investments, as his career combined academic experience and practical achievements. He started his education at Harvard University Law, where he specialized in the Banking Law.
His experience extends to banking and investment activities, and has contributed greatly to privatization and financing in the Middle East. He also played an important role in developing economic solutions to crises in Lebanon.
He held the position of Director General of Investment Banking Services at HSBC Bank between 2000 and 2006. A study was launched at 2023 on the recovery of the Lebanese financial system through Growthgate Equity Partners.
