Banks call on “honorable customers” to understand the theft of their...

Even after depositors were satisfied with the reality imposed by the banks, which led to the reduction of the ceilings for withdrawals from accounts in dollars, and the implementation of mandatory heirs on deposits equal to 50 percent, these banks were not satisfied. Yesterday it legalized what had previously been announced to reduce the ceilings for withdrawal in pounds. With a very polite statement that contradicts all the logic of banks ’treatment of depositors whose money was stolen, the Association of Banks called, after a meeting of its delegation with the Governor of the Banque du Liban Riad Salameh,“ honorable customers to understand the justifications for these temporary measures that would contribute to regulating and controlling the market in Lebanon. ».The association also announced that «the following was agreed upon:
1- Confirming that this type of measure is in its nature a temporary measure imposed by exceptional situations and which the central banks of the world resort to in order to combat inflation and the excessive rise in the prices of goods and services, without failing to meet the overall needs of the local market for liquidity.
2- Securing the liquidity needed by the Lebanese market and bank customers, without the latter being limited to cash.
3- Encouraging citizens and bank customers to use the various other payment tools available to them through the banking system, such as credit cards, checks and bank transfers.
The fastest response to this stimulus came from the hydrocarbon distributors. After the Central Bank of Lebanon issued a circular requiring fuel importers to pay cash, distributors took a decision to suspend the adoption of prepaid cards on stations. This position is expected to be generalized, so that the percentage of those who refuse to receive cards will increase, which in the end means that the cash ceiling that the depositor will receive is all that he can use, if he does not have the savings.

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