The position of the banks and the mobilization of the sectors affected by the procedures for withholding salaries and balances in pounds, necessitated a response from the Bank of Lebanon, “exposing” the banks’ claim that the central bank is the one who sets the quota for them in Lebanese pounds, so that it was clear from the response of the Bank of Lebanon that there are no quotas in pounds and no ceilings for salaries and aid.
In its response to the banks, the Central Bank mentioned that it can obtain the Lebanese pound by selling it to the paper US dollar at the price of the Sayrafa platform at the Banque du Liban, and that it can secure the needs of its depositors in the Lebanese pound, without being bound by the quota granted to it by the Bank of Lebanon, and the Bank of Lebanon saw That banks should not reduce the withdrawal ceilings for their customers monthly in Lebanese pounds in cash, as long as they have the capabilities by providing liquidity in Lebanese pounds through Sayrafa. He stressed that the Banking Control Commission will verify on the ground the liquidity position of the banks.
Away from the intentions of the Banque du Liban from forcing banks to obtain lira and dollars through an exchange platform and practicing what is similar to “recycling” money and currencies in the market, it has become evident that banks are trying to put pressure on citizens to provide their liquidity even at the expense of depriving them of their salaries, entitlements and social assistance. assigned to them.
Hospitals mobilize against banks
In the face of the banks’ practices, many sectors did not stand idly by. Rather, some of them responded with harsher and more painful measures than those imposed by the banks. Pay their hospital bills or external medical services in full in fresh US dollars or its equivalent in Lebanese pounds, according to the black market exchange rate. Hospitals did not hesitate to openly announce their pressure on the banks and the Banque du Liban, as the response to the banks’ procedures.
So, starting from April 1, 2022, hospitals will start assigning all employees of banks and the Banque du Liban, and those who are on their shoulders, to pay their bills upon any admission to hospital or external services, in cash in dollars or its equivalent in Lebanese pounds according to the exchange rate in the market, and in accordance with the tariffs in force in the hospital. . Whatever the guarantor they benefit from, taking into account critical cases that may pose a threat to the patient’s life, attributing the reasons to the banks’ decision not to pay the wages of the employees of their domiciled hospitals, and imposing them on the hospitals to secure all or most of the necessary cash funds in order to pay these wages Within the withdrawal limits set by each bank.
As the hospitals considered the action taken by the banks unfair and dangerous, because it deprives hospital employees of their wages, they considered that it is totally unacceptable and cannot be tolerated in any case, especially after the various stores and supermarkets took a decision to limit accepting payments either in cash 100 percent. Or at least 50 percent cash.
The hospitals clarified that they are experiencing financial difficulties, especially in terms of securing cash funds and what importers of medicines and medical materials and other non-medical purchases of fuel, food and other impose on them, from paying for them in cash, under the pretext of the monetary policy followed by the banks, which in turn blame the circulars of the Banque du Liban, Noting that most hospital receipts are made either by checks or bank transfers, and the cash that enters hospitals covers only a very small part of their cash needs.
Between warranty and banks
As for the National Social Security Fund, whose employees’ salaries and social assistance are also withheld, its employees did not remain silent. Their union demanded that the General Administration of the Fund pay salaries in cash from the authorized representatives due to the banks’ refusal to pay cash transfers to the salaries of employees and workers in the social security, following the arbitrary measures taken by the banks to set monthly ceilings in violation of the Money and Credit Law.
The request of the guarantee staff came after the Supermarket Owners Syndicate took its decision not to allow the use of bank cards except for 50 percent of purchases, in light of the refusal of many of them to accept bank cards, and after the fuel stations also refused to accept bank cards, and since the fund can pay the salaries and accessories of users. And the employees of his financial funds in each of his centers, especially since the social security accounting funds deposit billions of pounds daily with banks on various Lebanese territories.
According to Al-Modon’s information, it is now up to the Social Security Administration to seriously discuss the issue of paying employees’ salaries in cash, at least at the current stage, and not transfer them to banks. employees.