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REPORT: One third of the Lebanese citizens are bank indebted

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01-11-2012 | 14:12

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REPORT: One third of the Lebanese citizens are bank indebted

At the beginning of every month, banks in Lebanon overload with customers.

Seemingly since this day is considered as the day of financial commitments, citizens gather to settle their bank accounts and loan repayments, including car loans, personal loans, housing loans, or even loans for cosmetic surgeries.

The types of loans varry in Lebanese banks and the costumer has only to choose one of them.

Behind the famous advertisement that says "the customer is a king", are accumulating interests and banking funds that are taking away almost half the salary of each citizen at the beginning of each month.

A study conducted by the International Monetary Fund showed that one third of the Lebanese people are indebted to banks.

For every 1,000 Lebanese citizens, 335 are taking loans from the banks; 5.3% are housing loans, while 19% are personal loans.

For the full report, please click on the VIDEO above.

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