LebGeeks

automata

Member

Getting paid in Lollars - Offshore company

Hi guys,

Just wondering if you are already employed, how are you getting paid?

Some companies started to follow payment schemes like: half fresh dollars, half lollars, half LBP, or some percentages of each.

We happen to be working for an offshore company in Lebanon and we are still getting paid in lollars. Is that even legal?

Share your thoughts please.

Thanks

bobo619

Member

Re: Getting paid in Lollars - Offshore company

There is no law forcing your employer to pay you in fresh money offshore or local.

TheIlluminative

Member

Re: Getting paid in Lollars - Offshore company

Smile that you are still getting paid.

Paying you in lollars still million times better than paying you in LBP. It's totally legal.

anayman_k7

Member

Re: Getting paid in Lollars - Offshore company

it depends on each company and its source of income, my last company that I resigned from was paying and still in Fresh USD, all their clients are abroad, another company where a friend of mine works, their clients are abroad but they are paying in Lollar, I personally think they are consuming some dollar (which became lollar) they had in the bank.

Last edited by anayman_k7 (September 23 2020)

Flakk

Member

Re: Getting paid in Lollars - Offshore company

Hi guys,

Just wondering if you are already employed, how are you getting paid?

Some companies started to follow payment schemes like: half fresh dollars, half lollars, half LBP, or some percentages of each.

We happen to be working for an offshore company in Lebanon and we are still getting paid in lollars. Is that even legal?

Share your thoughts please.

Thanks

Getting paid in Lollars in totally legal as BDL set these regulations.
Actually it is in the benefit of BDL and ABL (banks) to decrease the size of lollars stuck, thus they allow you to retrieve in LBP at the 3900 or 3850 rate depends on the bank in think, but still its sort of a non direct haircut.

Last edited by Flakk (September 23 2020)

vlatkozelka

Member

Re: Getting paid in Lollars - Offshore company

There is no law forcing your employer to pay you in fresh money offshore or local.

Well my contract clearly says dollars.
Technically companies aren't breaking the law, the government is... Lollar is not a thing.
Now what do you do when your government breaks the law? haha

Salloum

Member

Re: Getting paid in Lollars - Offshore company

Lollars and fresh money don't exist, it's just terms we invented to differentiate the two. As long as money is entering your account, you're getting paid and it's entirely legal.

Guitaret

Member

Re: Getting paid in Lollars - Offshore company

For me the point is clear:
There is no breaking the law here, Offshore companies in Lebanon that are paying their employees in Lollars are just being your average opportunist. Assuming 1 Lollar is worth half a Dollar (let's hope it remains so), your cost as an employee is now worth half. Lots of companies are doing that and this is why hiring in tech right now is off the charts, tech ppl are now cheap, they use to be very expensive.
I get paid in Lollars and guess what? The number of employees has now doubled in my office.

Guitaret

Member

Re: Getting paid in Lollars - Offshore company

Smile that you are still getting paid.

Paying you in lollars still million times better than paying you in LBP. It's totally legal.

It is one way to look at it, but you can look at it the other way: In this particular case, we became poor not because of the government, but because the company we work for decided to ride along the wave and benefit from the situation.

Last edited by Guitaret (September 24 2020)