Opposition MPs challenge government and Central Bank decisions on withdrawals and electronic transfers

MP Samy Gemayel, along with deputies Fouad Makhzoumi, Michel Moawad, Waddah Sadek, Mark Daou, Adib Abdel Massih, and Ashraf Rifi, presented a petition to the State Shura Council to invalidate the decision of the Council of Ministers requesting the Central Bank to take necessary and appropriate measures to obligate banks to a cap on withdrawals available to depositors (whether in cash or transfers) in accordance with relevant circulars.  

They also requested equal treatment among banks, not prioritizing one deposit over another or any other foreign currency commitment, and to continue granting their customers the freedom to dispose of the "Fresh" funds. 

Additionally, they referred to a decision by Banque du Liban (BDL) that stipulated the opening of new accounts at BDL in Lebanese lira and US dollars exclusively for electronic transfers settlement and clearing checks using the funds referred to as "cash funds."  

These funds are the ones received by banks after November 17, 2019, either through cash deposits or transfers from abroad.  

Different rules will apply to the new accounts, and special checkbooks will be issued exclusively for withdrawals from these accounts, marked with the word "Fresh" in green to distinguish them from other checks that will continue to be used for settling old deposits. 

The deputies considered that these two decisions discriminated between one depositor and another and exceeded the limit of authority, and therefore they demanded the State Shura Council to annul them.