Multiple actors have gained profit from unregulated Sayrafa platfrom

The goal that (BDL) Governor aimed at with his statements was to benefit depositors, especially small and medium deposit holders, and to limit the random increase of the dollar. Still, most of the beneficiaries were merchants who devised methods in cooperation, if not collusion, with some depositors, employees, and managers of several banks to achieve profit at the cost of the accounts of the Lebanese people.

Banking sources deny that banks, as an organizational structure, have benefited from this matter, except for the percentage of the fair commission that they charge. Still, they cannot deny the possibility that some managers and employees have benefited.

Banking sources also considered that the Sayrafa platform is no longer correct as it was when it was launched. It lacks transparency. The most benefits are going to currency speculators.

According to follow-up sources, the Banking Control Commission, which has heard of abuses that have taken place, cannot act unless there are clear circulars or decisions officially issued by BDL.

These sources consider that the operations through the Sayrafa platform that took place three weeks ago are based on a statement issued by BDL Governor, Riad Salameh, in which there are no precise controls, which allowed some banks to escape relatively. Therefore for the committee to move further, it needs an official and documented circular, even if it is aware that some immoral processes and impurities have occurred.

The sources point out that the oversight committee is already performing its duties in auditing bank loans in LBP to determine whether they are used for investment or speculation. In case of violation, the banks are alerted and held accountable according to the law.