Banks’ position over request to raise taxes on interest on deposits from 7 to 10%

Yazbec Wehbe Author: Yazbec Wehbe
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28-04-2019 | 13:38
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Banks’ position over request to raise taxes on interest on deposits from 7 to 10%
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Banks’ position over request to raise taxes on interest on deposits from 7 to 10%

Given the critical conditions facing the country, all the sectors must contribute to the efforts aiming at reducing the budget deficit.

 

The banking sector comes first since it has money and continues to make annual profits.

 

The banks are the first party to give loans to the state and are requested to do two things: reducing the interest rate on these loans and granting the state more loans with less than 1% interest.

 

Banking sources said that no one has spoken with the Banks Association about these matters in the budget, adding that the budget draft law was drafted without taking the opinion of the association.

 

The same sources also strongly criticized the issue related to raising taxes on interest on deposits from 7 to 10%, stating that this measure could lead people to transfer their deposits abroad.

 
 

For more details, watch the full report in the video above

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