Finance Minister Ali Hassan Khalil underlined the need to "accelerate the launch of the work of institutions, especially the House of Representatives”, adding that the issue is no longer a political luxury, but an essential need to maintain the rest of the state, its dignity and its responsibilities". He called on all parties to "seize the opportunity to return to the House of Representatives because it has become more greatly facilitated at the moment after the settlement failed to launch the work of the government.”
He also called for accelerating "in the adoption of all laws relating to the financial and economic affairs and the lives of people" warning that "the laws relating to the acceptance of loans from the World Bank and those related to the Lebanese banking sector and financial requires recognition quickly and can no longer be delayed."
Khalil remarks came during the opening of the "National Conference on strengthening the financial capacity" at the "Phoenicia " hotel, which was organized by the Association of Banks in Lebanon in cooperation with the Ministry of Education and the "Institute Basil Fleihan economic and financial" and with the support of the Organization for Economic Co-operation and Development, and was attended by representative of the Minister of Education and Higher Education Director General of the Ministry Fadi Yark, president of the Association of Banks and President of the World Union of Arab Bankers Dr. Joseph Torbey, and other personnalities.
Khalil stressed in his speech that "it has become incumbent upon us to work seriously for the eradication on illiteracy level of financial affairs. “This is imposed by the facts of evolution witnessed by the world, in the light of the different tools, standards and responsibilities and the need for a broader involvement of popular base to take responsibility towards the challenges faced by the entire world, which is imposed by the evolution of the contact with the financial and banking sectors and productivity and management of financial affairs".
He stressed that "the Ministry of Finance is keen with its various departments to initiate reforms in the administrative and operational work and to address all the gaps on the basis of commitment to applicable laws, and the laws of management and control, accounting and highlight the gaps in order to exist them, instead of beating around the bush as this would weaken our ability to make the necessary changes."
On his part, Education Minister Elias Bou Saab noted that "the current era is witnessing an unprecedented acceleration in the use of financial products produced by banks and financial companies and electronic markets, and monitors the stock market and trading stocks and securities, and often these products could cause significant losses to its users as a result of ignorance or lack of culture on the mechanisms use and explain the risks.
Torbey hailed "financial and banking sector, which operates amid declining economic indicators. He added that this is the price paid by the economy for the price of politics. Torbey called for "the cooperation of all sides to overcome obstacles and take required step, including the vote on the financial bills in the House of Representatives that concerning the status of Lebanon's international image". He said that "Lebanon has long been out of the list of non-cooperating countries in terms of money laundering," but pointed out that the parliament "did not approve yet legislative international treaties signed by over 100 countries all over the world.
He stressed that "financial institutions, including banks, have exceeded the alert phase concerning the importance of integration of the largest number of possible social groups in the financial sector. Torbey added that financial institutions, including some banks, have created special units dedicated to financing and aiding small and medium size firms. He reminded that Lebanese banks have contributed to the creation of Kafalat in 1999 in order to help SMEs in Lebanon to access financing from banks.