Home » News » “No one convinces us that they are depositors.” The Association of Banks describes the attackers of bank branches as “mercenaries.”

“No one convinces us that they are depositors.” The Association of Banks describes the attackers of bank branches as “mercenaries.”

The Association of Banks in Lebanon issued the following statement:

Just as the Association of Banks in Lebanon warned of it in its previous statement, the plan for the systematic destruction of the banking sector began at the hands of a group of mercenary payers who do not exceed fifty people. And no one convinces us that they are among the depositors, as the depositor who enjoys the minimum level of intelligence and logic knows that by burning the banks, he is only harming himself and the rest of the depositors, whether by depriving them of benefiting from automatic teller machines or through repair expenses that will increase banking burdens and weaken the capabilities of banks to restore their rights.
As for accusing the banks that it was their strike that led to the drop in the exchange rate of the lira, there is also a lot of lightness and superficiality in it. The banks are confused about them: if they are closed, their closure is considered to be behind the decline of the national currency, and if they are opened, it is alleged that they are speculating over the lira.
Banks deposit the deposits of their customers with the Banque du Liban, especially in implementation of the circulars of the Banque du Liban and in line with the principles of global banking dealings, so they use these funds despite their will to support the exchange rate and to finance the state, then the state evades returning them and mobs emerge to exonerate the state from its obligations. Banks are losing all their private money, which exceeded twenty-four billion dollars, and they are accused of seizing deposits and lending them to the Banque du Liban, greedy for money. After the outbreak of the crisis on 10/17/2019, the state spent more than twenty billion dollars to date in support of smuggling and the exchange rate, so depositors hold banks responsible for the loss. Banks lend more than fifty-five billion dollars in deposits and work to recover them from their debtors in order to return them to the depositors. Most judicial decisions oblige them to collect these debts on the basis of an exchange rate of 1,507.58 Lebanese pounds, or at best according to a bank check in local dollars drawn on the Bank of Lebanon equal to less than five Ten percent of the value of the loan obtained. Where do banks return deposits to their customers?
Hey depositors, the banks understand your frustration, but the time has come for you to open your eyes and realize that the funds needed to pay off your deposits are not with the banks, so entering them by force, destroying them, or breaking their contents does not benefit you, because by doing so you offend yourselves, exacerbate the loss, and reduce the chances of regaining your rights. The time has come for you to realize who wasted their rights and who should direct your arrows and pressure to restore them!!!

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