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Lebanon cabinet appoints wealth manager central bank governor: official media

Lebanon’s cabinet on March 27 named asset manager Karim Souaid as central bank governor, official media reported, a post crucial to implementing economic reforms demanded by the international community. (Lebanese Presidency/AFP)
Lebanon’s cabinet on March 27 named asset manager Karim Souaid as central bank governor, official media reported, a post crucial to implementing economic reforms demanded by the international community. (Lebanese Presidency/AFP)
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Updated 27 March 2025

Lebanon cabinet appoints wealth manager central bank governor: official media

Lebanon cabinet appoints wealth manager central bank governor: official media
  • Souaid officially takes over after embattled former chief Riad Salameh’s term expired in July 2023 with no designated successor

BEIRUT: Lebanon’s cabinet on Thursday named asset manager Karim Souaid as central bank governor, official media reported, a post crucial to implementing economic reforms demanded by the international community.
He was appointed despite reservations of new reformist prime minister Nawaf Salam, who called on Souaid to commit to the government’s reform agenda in a country enduring a five-year economic collapse widely blamed on official mismanagement and corruption.
“The cabinet appointed Karim Souaid as central bank governor,” the official National News Agency said.
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh’s term expired in July 2023 with no designated successor.
Divided politicians had since failed to agree on a permanent replacement for Salameh, who has been accused at home and abroad of financial crimes.
First vice-governor Wassim Manssouri had been acting head of the central bank, a post that is traditionally reserved for a Maronite Christian in Lebanon’s sectarian power-sharing system of governorship.
Souaid is the founder and managing partner at Gulf-based Growthgate, according to his biography on the private investment firm’s website.
It says he previously worked at financial establishments including HSBC Bank and has been involved in privatization initiatives in a number of Arab countries.
Some local media have reported that Souaid is close to the banking sector and members of Lebanon’s entrenched ruling class.
Salam said he had “reservations” about Souaid’s appointment but did not give specifics except to cite his “desire to protect depositors’ rights and preserve the state’s assets.”
He said Souaid “must adhere, from today, to the financial policy of our reformist government... on negotiating a new program with the International Monetary Fund, restructuring the banks, and presenting a comprehensive plan” to preserve depositors’ rights.
Lebanon’s new authorities need to carry out reforms demanded by the international community to unlock bailout funds.
The economic crash since 2019 has seen the local currency lose most of its value against the dollar and pushed much of the population into poverty, with people locked out of their savings.
Salam also said the cabinet approved Thursday “a draft law aiming to modify legislation on banking secrecy.”
In April 2022, Lebanon and the IMF reached conditional agreement on a $3-billion-dollar loan package, but painful reforms that the 46-month financing program would require have not been undertaken.
Earlier this month, the IMF welcomed the new Lebanese government’s request for support in addressing the country’s severe economic challenges.
In February, it said it was open to a new loan agreement with the country following discussions with its recently appointed finance minister.
Beirut-based think tank the Policy Initiative in a statement Wednesday said that the nomination of central bank chief would “test the new government’s commitment to genuine reform.”
“The next governor will shape Lebanon’s urgent reform agenda, serve as the main counterpart to the International Monetary Fund, and directly engage in sovereign debt restructuring negotiations” alongside the finance ministry, it said.
Souaid studied law at Lebanon’s St. Joseph University and at Harvard Law School in the United States, according to his biography.
He has also worked as a corporate finance attorney in New York, and is a member of the New York State Bar Association, it says.
The central bank governor in Lebanon is named by cabinet decree for a six-year mandate that can be renewed multiple times, based on the finance minister’s recommendation.


Israel’s Ben Gvir calls for ‘Gaza victoy’ at Al Aqsa mosque compound

Updated 2 sec ago

Israel’s Ben Gvir calls for ‘Gaza victoy’ at Al Aqsa mosque compound

Israel’s Ben Gvir calls for ‘Gaza victoy’ at Al Aqsa mosque compound
JERUSALEM: Israel’s far-right National Security Minister Itamar Ben-Gvir visited the flashpoint Al-Aqsa mosque compound in Jerusalem on Wednesday and called on Prime Minister Benjamin Netanyahu to pursue “complete victory” over Hamas in Gaza.
In a video on the edge of one of the most sensitive sites in the Middle East, Ben-Gvir said that two years after the October 7 2023 Hamas attack that triggered the Gaza war, Israel was “winning” at the Jerusalem compound known to Jews as Temple Mount and to Muslims as the Noble Sanctuary.
“Every house in Gaza has a picture of the Temple Mount, and today, two years later, we are winning on the Temple Mount. We are the owners of the Temple Mount,” Ben-Gvir said in the video released by his Jewish Power party.
“I only pray that our prime minister will allow a complete victory in Gaza as well – to destroy Hamas, with God’s help we will return the hostages, and we will win a complete victory,” Ben-Gvir said.
His remarks were released as Israel and Palestinian militant group Hamas are deep in indirect negotiations in Egypt to release all remaining Israeli hostages in Gaza and end the war there.
Ben-Gvir, known as a hard-liner well before he helped Netanyahu form the most right-wing coalition government in Israel’s history, heads the pro-settler, nationalist-religious Jewish Power party. He has previously threatened to quit Netanyahu’s government unless Hamas is utterly destroyed.
The Al-Aqsa compound, in Jerusalem’s walled Old City, is Islam’s third holiest site and the most sacred in Judaism. Under a delicate decades-old “status quo” arrangement with Muslim authorities, the Al-Aqsa compound is administered by a Jordanian religious foundation and Jews can visit but may not pray there.
Ben-Gvir has previously challenged those rules, prompting Netanyahu to issue statements saying Israel was committed to the status quo there.
Suggestions that Israel would alter rules at the Al-Aqsa compound have sparked outrage in the Muslim world and ignited violence in the past.

Turkiye says Israel’s Gaza aid flotilla intervention is act of piracy

Turkiye says Israel’s Gaza aid flotilla intervention is act of piracy
Updated 08 October 2025

Turkiye says Israel’s Gaza aid flotilla intervention is act of piracy

Turkiye says Israel’s Gaza aid flotilla intervention is act of piracy
  • Turkiye said that all initiatives were being taken for Turkish citizens held by Israel to be freed

ANKARA: Turkiye on Wednesday slammed an intervention by Israeli forces against a flotilla attempting to deliver humanitarian aid to Gaza as an act of piracy and a violation of international law.
Turkiye’s foreign ministry said the intervention against the Freedom Flotilla, including Turkish nationals and lawmakers, showed that the “genocidal” Israeli government targeted all peaceful measures and heightened tensions in the region while damaging peace efforts.
It added in its statement that all initiatives were being taken for Turkish citizens held by Israel to be freed and returned to Turkiye, and that it was coordinating with other countries regarding their citizens too.


Sudan paramilitary attack on maternity ward kills eight: medic

Sudan paramilitary attack on maternity ward kills eight: medic
Updated 08 October 2025

Sudan paramilitary attack on maternity ward kills eight: medic

Sudan paramilitary attack on maternity ward kills eight: medic
  • It is the latest strike on health care facilities since the start of the war in Sudan in April 2023, between the RSF and the regular Sudanese army

PORT SUDAN: A drone strike by Sudan’s paramilitary Rapid Support Forces killed eight people in a maternity ward in the besieged city of El-Fasher, a medical source told AFP on Wednesday.
The attack, which occurred on Tuesday, also injured seven people in El-Fasher Hospital and “damaged buildings and equipment,” the health worker said on condition of anonymity for their safety.
It is the latest strike on health care facilities since the start of the war in Sudan in April 2023, between the RSF and the regular Sudanese army.
El-Fasher Hospital is one of the last functioning health facilities in the North Darfur state capital, where the paramilitary is waging its fiercest assault on the city yet.
El-Fasher is the only major city in the vast western region of Darfur the RSF has not yet seized, despite besieging the city since May 2024.
The UN has called El-Fasher “the epicenter of child suffering,” where mass starvation has taken hold and even the animal feed families have survived on now costs hundreds of dollars a sack.
The war in Sudan has killed tens of thousands of people and created the world’s largest hunger and displacement crisis.


Hamas official says hostage and prisoner lists exchanged

Hamas official says hostage and prisoner lists exchanged
Updated 53 min 26 sec ago

Hamas official says hostage and prisoner lists exchanged

Hamas official says hostage and prisoner lists exchanged
  • Israel and Hamas are holding indirect negotiations in the Egyptian resort town of Sharm El-Sheikh
  • Hamas’s top negotiator, Khalil Al-Hayya, said the Islamist group wants "guarantees from President Trump"

CAIRO: Senior Hamas official Taher Al-Nounou said on Wednesday that negotiators from his group and Israel have exchanged lists of prisoners and hostages who would be released should a deal be reached during the ongoing Gaza ceasefire talks in Egypt.
Al-Nounou also said Hamas expressed optimism about reaching a deal, stating that the group has demonstrated the necessary positivity. 

Qatar’s prime minister and senior delegates from the United States and Turkiye joined Hamas and Israeli negotiators on Wednesday for a third day of talks aimed at ending the Gaza war.
Israel and Hamas are holding indirect negotiations in the Egyptian resort town of Sharm El-Sheikh, based on a 20-point plan proposed by US President Donald Trump last month.
Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, Turkiye’s intelligence chief Ibrahim Kalin, Trump’s special Middle East envoy Steve Witkoff and son-in-law Jared Kushner are all due to attend the talks.
“There’s a real chance that we could do something,” Trump told reporters in the Oval Office on Tuesday, adding that US negotiators were also involved in the talks.
“I think there’s a possibility that we could have peace in the Middle East. It’s something even beyond the Gaza situation. We want a release of the hostages immediately.”
Trump said the United States would do “everything possible to make sure everyone adheres to the deal” if Hamas and Israel do agree on a ceasefire.
Global pressure to end the war has escalated, with much of Gaza flattened, a UN-declared famine unfolding and Israeli hostage families still longing for their loved ones’ return.
A UN probe accused last month Israel of genocide. 
Hundreds of thousands of protesters joined pro-Palestinian mass demonstrations in cities across the world last weekend, calling for an immediate end to the war, including in Italy, Spain, Ireland and Britain.
Demonstrators in the Netherlands called for their government to recognize a Palestinian state, while tens of thousands in Britain defied Prime Minister Keir Starmer’s calls to skip rallies, holding vigils and gatherings on the October 7 anniversary.

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Hamas’s top negotiator, Khalil Al-Hayya, said the Islamist group wants “guarantees from President Trump and the sponsor countries that the war will end once and for all.”
Trump’s plan calls for a ceasefire, the release of all the hostages, Hamas’s disarmament and a gradual Israeli withdrawal from Gaza.
The plan received positive responses from both Israel and Hamas and prompted indirect talks in Egypt since Monday.
A Palestinian source close to the Hamas negotiating team said Tuesday’s session included Hamas discussing “the initial maps presented by the Israeli side regarding the withdrawal of troops as well as the mechanism and timetable for the hostage-prisoner exchange.”
US representatives Witkoff and Kushner were expected to arrive in Egypt on Wednesday, according to Egyptian Foreign Minister Badr Abdelatty, after they were initially expected to arrive last weekend.
“The primary guarantee of success at this stage is US President Trump himself... even if it comes to a point to require him imposing a vision,” he said.
Israel’s military campaign in Gaza has killed at least 67,160 people, according to the health ministry in the territory, figures the United Nations considers credible.

With Agencies


Gaza aid flotilla says Israeli forces attack convoy, intercept several boats

Gaza aid flotilla says Israeli forces attack convoy, intercept several boats
Updated 08 October 2025

Gaza aid flotilla says Israeli forces attack convoy, intercept several boats

Gaza aid flotilla says Israeli forces attack convoy, intercept several boats
  • The Gaza Freedom Flotilla said its vessels were under attack by the Israeli military
  • The Israeli military was jamming signals with at least two boats being boarded, the flotilla said on Instagram.

The organizers of a new Gaza-bound aid flotilla said the Israeli army intercepted at least three of its boats on Wednesday.
“Three vessels — Gaza Sunbirds, Alaa Al-Najjar, and Anas Al-Sharif — have been attacked and illegally intercepted by the Israeli military” early morning, 220 kilometers (around 140 miles) off the coast of Gaza, the Global Sumud Flotilla said on X.
It said another ship, the Conscience, carrying more than 90 journalists, doctors and activists, was also “under attack.”
The Israeli foreign ministry confirmed it had intercepted boats attempting to reach Gaza.
“Another futile attempt to breach the legal naval blockade and enter a combat zone ended in nothing. The vessels and the passengers are transferred to an Israeli port,” it said on social media.
“All the passengers are safe and in good health. The passengers are expected to be deported promptly,” it added.
The Freedom Flotilla Coalition said the boats were carrying “vital aid worth over $110,000 USD in medicines, respiratory equipment, and nutritional supplies that were destined for Gaza’s starving hospitals.”
Israel has blocked several international aid flotillas in recent months from reaching the war-torn Palestinian territory, where the UN says famine has set in.
Israeli naval forces stopped last week another Global Sumud Flotilla of around 45 vessels, carrying politicians and activists including Swedish climate campaigner Greta Thunberg.
The move drew mass protests across Europe.