News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
22
o
Bekaa
18
o
Keserwan
21
o
Metn
21
o
Mount Lebanon
21
o
North
21
o
South
21
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Jadal
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
22
o
Bekaa
18
o
Keserwan
21
o
Metn
21
o
Mount Lebanon
21
o
North
21
o
South
21
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Sports
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Banking crisis persists as Bankmed ruling suspended
Lebanon Economy
10-03-2023 | 09:27
High views
Share
Share
3
min
Banking crisis persists as Bankmed ruling suspended
The execution of a ruling against Bankmed, which ordered the bank to pay around $200,000 in cash to one of its depositors, has temporarily been suspended pending a decision on an appeal that includes a request to suspend the execution of the ruling.
Banking sources have stated that issuing any contradictory decision to the initial ruling does not mean the problem has been resolved.
The issue is likely to recur with any bank at any time, as long as some judges are not convinced of the need to treat money transactions equally, either in cash and in dollars for deposits on the one hand and loans on the other, or by issuing bank checks for everyone.
Banking sources have also stressed the importance of the Banque Du Liban (BDL) issuing a circular related to transfers and withdrawals in the absence of a Capital Control law, which would be taken into account by the judiciary.
Banking sources have reiterated that they have been obliged to collect around $30 billion in debt owed to them by the private sector through checks and in Lebanese lira at a rate of 1,500 LBP to one US dollar and asked whether depositors would accept receiving their deposits in the same manner that banks have collected their loans. These loans are an essential part of the deposits.
In light of this reality, there is no retreat in the banks strike, and its repercussions have led some banks to suspend all operations on the Sayrafa platform, fearing that they will not be able to recover their dollars, as the BDL has informed the Association of Banks in Lebanon (ABL) that it will not be able to continue its Sayrafa operations with banks due to the declared strike.
Banking sources considered that the Central Bank needed an excuse to stop the Sayrafa operations and blamed it on the banks strike.
The debate continues in the ABL regarding suing the Lebanese state. Still, there is a widespread belief within the association that such a lawsuit is futile and will not benefit depositors.
If there were seriousness on the part of the state in assuming its responsibility for the financial losses, it would have initiated a transitional program to restructure the Central Bank, a process that the monetary and credit law has stipulated.
Lebanon News
Lebanon Economy
News Bulletin Reports
Banks
Crisis
Strike
Court
Ruling
Lebanon
Next
Lebanon updates fuel prices
Recommended For You
d-none hideMe
0
Lebanon Economy
02:18
Fuel prices in Lebanon updated
Lebanon Economy
02:18
Fuel prices in Lebanon updated
0
Lebanon Economy
2025-05-06
Fuel prices in Lebanon updated
Lebanon Economy
2025-05-06
Fuel prices in Lebanon updated
0
News Bulletin Reports
2025-05-05
UAE says 'yes' to Lebanon again — can Beirut turn the page?
News Bulletin Reports
2025-05-05
UAE says 'yes' to Lebanon again — can Beirut turn the page?
0
News Bulletin Reports
2025-05-02
Lebanon eyes recovery driven by reforms with $934M in preliminary funding
News Bulletin Reports
2025-05-02
Lebanon eyes recovery driven by reforms with $934M in preliminary funding
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
World News
11:34
Russian Orthodox head lauds Pope Leo, hopes to build church ties
World News
11:34
Russian Orthodox head lauds Pope Leo, hopes to build church ties
0
News Bulletin Reports
2025-02-02
Khalil Khalil run over in Faraya: Lebanon’s 'lawlessness' exposed as 19-year-old killed over traffic dispute
News Bulletin Reports
2025-02-02
Khalil Khalil run over in Faraya: Lebanon’s 'lawlessness' exposed as 19-year-old killed over traffic dispute
0
World News
2025-04-28
Massive blackout hits Spain, Portugal, France
World News
2025-04-28
Massive blackout hits Spain, Portugal, France
0
Lebanon News
03:51
Israeli drone drops sound bomb on stone factory in Kfarkela — NNA
Lebanon News
03:51
Israeli drone drops sound bomb on stone factory in Kfarkela — NNA
Videos
d-none hideMe
0
News Bulletin Reports
14:18
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
News Bulletin Reports
14:18
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
0
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
0
Lebanon News
2025-04-08
Morgan Ortagus urges Lebanon to pass banking reforms to restore financial trust
Lebanon News
2025-04-08
Morgan Ortagus urges Lebanon to pass banking reforms to restore financial trust
0
Lebanon News
2025-04-06
LBCI Exclusive: US envoy Morgan Ortagus reveals US vision for Lebanon’s stability and disarmament – full interview transcript
Lebanon News
2025-04-06
LBCI Exclusive: US envoy Morgan Ortagus reveals US vision for Lebanon’s stability and disarmament – full interview transcript
0
Lebanon News
2025-03-23
LBCI's Pierre El Daher bids farewell to Hoda Chedid: You will always be our guiding light
Lebanon News
2025-03-23
LBCI's Pierre El Daher bids farewell to Hoda Chedid: You will always be our guiding light
0
Middle East News
2025-03-19
Israeli official urges international support for Lebanese government and army
Middle East News
2025-03-19
Israeli official urges international support for Lebanese government and army
0
Lebanon News
2025-02-23
Israeli aircraft fly at low altitude over Beirut during Hezbollah's former leaders funeral
Lebanon News
2025-02-23
Israeli aircraft fly at low altitude over Beirut during Hezbollah's former leaders funeral
0
Lebanon News
2025-02-23
Coffins of Sayyed Hassan Nasrallah and Hashem Safieddine enter Sports City Stadium (Video)
Lebanon News
2025-02-23
Coffins of Sayyed Hassan Nasrallah and Hashem Safieddine enter Sports City Stadium (Video)
0
Lebanon News
2025-02-23
Tens of thousands gather at Sports City Stadium for farewell to Hezbollah’s former leader Nasrallah (Video)
Lebanon News
2025-02-23
Tens of thousands gather at Sports City Stadium for farewell to Hezbollah’s former leader Nasrallah (Video)
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
03:51
Israeli drone drops sound bomb on stone factory in Kfarkela — NNA
Lebanon News
03:51
Israeli drone drops sound bomb on stone factory in Kfarkela — NNA
2
Lebanon Economy
02:18
Fuel prices in Lebanon updated
Lebanon Economy
02:18
Fuel prices in Lebanon updated
3
Lebanon News
06:52
Diaspora groups push for electoral law amendment to confirm expat voting rights for all 128 parliamentary seats — press release
Lebanon News
06:52
Diaspora groups push for electoral law amendment to confirm expat voting rights for all 128 parliamentary seats — press release
4
News Bulletin Reports
14:18
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
News Bulletin Reports
14:18
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
5
Lebanon News
05:04
Lebanon ready for Emirati return amid tightened airport security, interior minister says
Lebanon News
05:04
Lebanon ready for Emirati return amid tightened airport security, interior minister says
6
News Bulletin Reports
13:00
Trump 'blindsides' Netanyahu with Saudi nuclear green light: Is Israel losing its influence over US Mideast policy?
News Bulletin Reports
13:00
Trump 'blindsides' Netanyahu with Saudi nuclear green light: Is Israel losing its influence over US Mideast policy?
7
Lebanon News
05:40
Lebanon's FM discusses southern tensions with UNIFIL chief, backs mission's mandate
Lebanon News
05:40
Lebanon's FM discusses southern tensions with UNIFIL chief, backs mission's mandate
8
News Bulletin Reports
13:08
Path to Lebanon’s banking reform law remains slow and challenging — The details
News Bulletin Reports
13:08
Path to Lebanon’s banking reform law remains slow and challenging — The details
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More