2023-09-11 18:49:11
The “Depositors’ Cry” Association and the “Depositors’ Solidarity Association” held a meeting with the Acting Governor of the Bank of Lebanon, Wassim Mansouri.
The delegation included from the “Depositors’ Cry” association, the association’s president, Alaa Khurshid, and Musa Aghasi, and from the “Depositors’ Solidarity Association,” Saeed Zuwayhed and Samer Bustani.
A statement by the association stated, “All challenges and possible solutions were discussed, in addition to a careful discussion of Law No. 44 and the powers of the head of the Special Investigation Commission.”
Al-Bustani called on the ruler to “implement Article 9 of Law No. 44 and take advantage of the powers given to the ruler in order to protect the rights of the depositor and help him recover his money.” He also called for pursuing the trace of funds smuggled abroad through international organizations, especially the financial intelligence units spread around the world and their number. 185 international units.
For his part, Zuwayhed stressed “the necessity of preventing banks from closing depositors’ accounts and giving them checks for their deposits with notaries.”
He also called for “obliging banks to reopen accounts that were closed.”
The governor promised to meet this demand through a meeting that will soon bring together the Depositors’ Cry Association and the Depositors’ Solidarity Association with members of the Banking Control Commission to discuss all the details.
Zuwayhed added, “We asked to raise the ceiling for withdrawals on Circular 158, and the answer came from the governor that it is not possible to achieve this demand currently for many reasons that were explained by him. He promised to study this matter so that he can raise it to about $1,000 in the future. Accordingly, he will ask the Council The representatives will undertake to restructure the banks so that they can decide on this issue and be able to set the withdrawal ceiling on this basis. Regarding deposits after October 17, 2019, the governor said, “We must verify all these deposits. The one who transferred his deposit from one account to another must take his rights, and the one who traded in checks will not “He takes the entire deposit like the rest of the main depositors. The governor confirmed that the reserve amount in the Bank of Lebanon will not be affected.”
The governor explained that the price of 15,000 Lebanese pounds was set in the 2020 budget. Since the exchange rate cannot be modified except by law, in the draft new budget law, the exchange rate mentioned in it will be about 90,000. When the new budget law is approved, depositors will be able to withdraw at the same price stated in the budget, i.e. about 90,000, and the price of 15,000 will automatically be cancelled.
Khorshid stated that “all plans must come from the state and called for activating the work of the Banking Control Committee to examine all violations committed by banks against depositors, especially the issue of closing accounts.”
He said: “We asked His Excellency the Governor about the solution with major borrowers who repaid loans at less than the real value of the loan. He suggested that a one-time tax be imposed on all those who closed loans at less than their real price, especially major borrowers. Dr. Mansouri informed us regarding the criminal report in The Bank of Lebanon, which was prepared by Alvarez & Marsal, stated that all the required documents had been sent to the Public Prosecution, and we presented to His Excellency a list that addressed all the demands that the depositors had instructed us to convey to the governor.”
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