In a new report issued by the Lebanese National News Agency, it was reported by the News Agency.BloombergIt stated that the Lebanese government plans to launch a digital currency designed to boost confidence in the Lebanese banking system.

This is not the first time that Lebanon has flirted with the idea of ​​digital currency.

In April of this year, Mr. Riad Salameh, Governor of the Central Bank of Lebanon, stated:

Lebanon intends to launch a central bank digital currency to make financial payments affordable for the Lebanese.

But now, the goal has changed from facilitating financial payments to restoring confidence in Lebanese banks.

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And, as he told us, it is not the first time that the Central Bank of Lebanon’s intention to launch a digital currency has appeared, as it has already announce The Central Bank of Lebanon announced that it was preparing to launch a cryptocurrency or a “virtual Lebanese pound” that would be designed for local use, and signs of that appeared in January 2019.

At the time, concerns about money laundering and terrorist financing were rife.

In this regard, Salama stated:

Cryptocurrencies were mostly used for money laundering than for financing terrorism, as there was no exchange mechanism for these currencies in war zones.

If Lebanon launches a digital currency, it will join a long list of countries that have already launched, or are considering launching their own.

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