Lebanese Banks Capital Control

good read, but is law relevant in lebanon at this point? Everyone is pulling the blanket towards them and the lebanese is left to suffer.
No one is being prosecuted nor held accountable for anything, wether financial or criminal in nature.
Where does the court stand relative to all this bullshit?
We all know the answers.
Capital control? I don't see why they would implement it if they're happy with the current chaos. They're all one party, in my opinion

Hybrid wrote

tricky wroteBank of Beirut contacted me and told me I should go to the branch and sign BDL circular 158, I told them I don't want to benefit and they told me there are "other" papers am required to sign. Anybody had a similar experience and knows what those "other" papers are?

Some banks are asking you to sign this:
https://i.ibb.co/yd0GQDX/b.jpg

Basically telling their clients that they aren't responsible in case they stopped paying you

Thank you for that, but am guessing that is related to the 158, that they are not responsible if they stop paying you, but what if you dont want to sign in for the 158.

tricky wrote

Hybrid wrote

tricky wroteBank of Beirut contacted me and told me I should go to the branch and sign BDL circular 158, I told them I don't want to benefit and they told me there are "other" papers am required to sign. Anybody had a similar experience and knows what those "other" papers are?

Some banks are asking you to sign this:
https://i.ibb.co/yd0GQDX/b.jpg

Basically telling their clients that they aren't responsible in case they stopped paying you

Thank you for that, but am guessing that is related to the 158, that they are not responsible if they stop paying you, but what if you dont want to sign in for the 158.

Tell them you have been advised not to sign anything yet. Banks are trying to get everyone to sign it to limit their exposure and get the 'dead money' off of their books. My brother received something from Blom asking him to sign something---he is in Canada though so that's not going to happen.

@xazbrat thanks for the advise!

Smart Haircut:

The corrupted system from 1990 until now is the cause of impoverishment and starvation through looting and thefts. BDL is the engineer of this and now it's working as a hero to curb the collapse of the lira.. through collusion with banks.

1- Stealing depositors’ dollars and seizing them on the basis of an exchange rate of 1500

2- Print the lira in density

3- Re-give people the depositors dollars on the basis of the exchange rate of exchange rate of 24,000 , as per "Sayrafa".

... Repeat

Tech Guru wroteSmart Haircut:

The corrupted system from 1990 until now is the cause of impoverishment and starvation through looting and thefts. BDL is the engineer of this and now it's working as a hero to curb the collapse of the lira.. through collusion with banks.

1- Stealing depositors’ dollars and seizing them on the basis of an exchange rate of 1500

2- Print the lira in density

3- Re-give people the depositors dollars on the basis of the exchange rate of exchange rate of 24,000 , as per "Sayrafa".

... Repeat

What happens next, when the debt is paid ?

NuclearVision wrote

Tech Guru wroteSmart Haircut:

The corrupted system from 1990 until now is the cause of impoverishment and starvation through looting and thefts. BDL is the engineer of this and now it's working as a hero to curb the collapse of the lira.. through collusion with banks.

1- Stealing depositors’ dollars and seizing them on the basis of an exchange rate of 1500

2- Print the lira in density

3- Re-give people the depositors dollars on the basis of the exchange rate of exchange rate of 24,000 , as per "Sayrafa".

... Repeat

What happens next, when the debt is paid ?

Lebanese golden age

anybody know which countries accept LBP and would the rate of conversion be at 1,500 per dollar or it would be the Sayrafa one?