Wednesday, February 21, 2018

BankMed and the Lebanese Pound saga

Hmmm, the Central Bank by its own admission has pumped six billion USD to keep the Lebanese Pound afloat when PM Hariri resigned-did-not-resign episode thanks to some KSA-meddling-yet-done-in-his-own-free-will. BankMed is indeed owned by the same family in question, which is now advertising "our (Lebanese) pound is our currency" - the beautiful part of the ad is that they actually got the vintage typography present on the currency to write the headline giving the ad a typical Lebanese cachet. Pity the ad has to come with the hefty price tag of 6 billion Dollars to have it done!