Lebanese Banks Capital Control

kareem_nasser · 2020-01-23T08:43:38+00:00

Since we all know all banks in lebanon are virtually imposing their own policy to control capital for various reasons, which I prefer we don't discuss as we...

tricky

Bank 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?

Hybrid

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:

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

tricky

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.

xazbrat

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.

tricky

@xazbrat thanks for the advise!

tech-guru

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

NuclearVision

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 ?

mikasa

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

tricky

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?

nuclearcat

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

None. LBP is not convertible currency.

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