The request was confirmed by both a Lebanese army source and an Iraqi Defence Ministry official.
“There will be more financial aid, but details have not been agreed on yet,” said the Iraqi official.
The army source said that the money would be spent on food and medicine for its 80,000 soldiers.
Neither side gave an official explanation for the army s request, but analysts were not surprised.
“Institutions are trying to bypass the banking system and the Lebanese pound,” said financial analyst Mike Azar.
“We have been moving to a cash economy for the last 18 months as the banking system remains insolvent. The currency crisis and multiple exchange rate system makes it challenging to do business in Lebanese pounds.”
Senior Manager, Assurance Department, PwC Cyprus
Styliana Panayi is a Senior Manager in the Assurance Department of PwC Cyprus and also member of the Accounting Consulting Services team.
Styliana holds a BA (Hons) in Accounting & Finance with a first-class honours from the University of Manchester and a Master in Business Administration (MBA).
She is also a fellow Chartered Accountant with the Institute of Chartered Accountants in England and Wales (ICAEW), an ICAEW Business and Finance Professional and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC). Co-chair: Evgeny Tarakanov
Financial Director, Bilarex Co. Limited
Evgeny Tarakanov is a Financial Director in Bilarex Co. Limited, Nicosia Cyprus. Prior to joining Bilarex Co. in 2014, Evgeny was employed at PwC Cyprus in Audit/Assurance Financial Services and Risk Assurance Consulting lines of services. Evgeny holds a MA in Public Administration from the KSU (State
Lebanese artist Afaf Zurayk shares memories of her illuminating teacher, Helen Khal, with Myrna Ayad. This account, part of our Remembering the Artist series, is based on their interview