News
Latest News
news bulletin
Breaking Headlines
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
19
o
Mount Lebanon
19
o
Metn
20
o
Keserwan
20
o
North
19
o
South
19
o
Bekaa
11
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Mesh Ana
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
19
o
Mount Lebanon
19
o
Metn
20
o
Keserwan
20
o
North
19
o
South
19
o
Bekaa
11
o
News
Programs
The News
Breaking Headlines
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
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
Why are banks resuming their strike on Tuesday?
News Bulletin Reports
2023-03-09 | 08:59
High views
Share
Share
3
min
Why are banks resuming their strike on Tuesday?
Lebanese banks have decided to resume their strike starting next Tuesday while keeping ATMs and international transfers to merchants open in order to secure imports.
This decision comes after BankMed was required to pay a depositor's dollar deposit in cash instead of a bank check, which sparked outrage among banks.
Despite the opposition of the caretaker Prime Minister, Najib Mikati, and the Governor of the Central Bank of Lebanon, Riad Salameh, consultations among banks led to the decision to resume the strike.
The Association of Banks issued a statement that referred to judicial decisions that weigh on different scales. Banks are required to accept debt repayments in foreign currency by bank checks drawn on the Central Bank of Lebanon, or in Lebanese pounds at an exchange rate of 1,500 pounds per dollar.
Additionally, banks are required to repay or transfer foreign currency deposits in cash and in the same currency for the benefit of some depositors on the account of other depositors.
The statement noted that these judicial decisions obliged banks, which had lent the private sector approximately 40 billion dollars, to receive over 30 billion dollars in checks drawn on the Central Bank of Lebanon or in Lebanese pounds at an exchange rate of 1,500 pounds per dollar. The judicial decisions did not realize that they were thereby reducing depositors' chances of recovering their foreign currency deposits and even eliminating them.
The banks stressed that it has become urgently necessary for the official authorities, including executive, monetary, judicial, and legislative bodies, to assume their responsibility by finding a comprehensive solution to the systemic crisis. This can be achieved by issuing general and binding rules that apply to everyone, not just specific or all banks, but also to the entire financial sector and even depositors.
The resumption of the strike by Lebanese banks will likely have an impact on the already fragile economy, exacerbating the shortage of liquidity and further delaying the recovery of the country from its economic crisis.
Lebanon News
Lebanon Economy
News Bulletin Reports
Lebanon
Banks
Strike
ATM
Transfers
Merchant
Finance
Economy
Crisis
Lira
Pound
Currency
Dollars
Next
Forensic report on BDL submitted by A&M to Finance Minister sheds light on Forry controversy, suggests criminal implications
Recommended For You
d-none hideMe
0
News Bulletin Reports
12:30
From North to South: Israeli ground operation widens in Gaza Strip
News Bulletin Reports
12:30
From North to South: Israeli ground operation widens in Gaza Strip
0
News Bulletin Reports
11:53
Global emissions: The top contributors to the climate crisis and its consequences
News Bulletin Reports
11:53
Global emissions: The top contributors to the climate crisis and its consequences
0
News Bulletin Reports
11:17
US-Israel relations tested: Israel's War Cabinet debates humanitarian aid for Gaza
News Bulletin Reports
11:17
US-Israel relations tested: Israel's War Cabinet debates humanitarian aid for Gaza
0
News Bulletin Reports
11:09
Hamas and Hezbollah dynamics: Hamas in Lebanon retreats on Al-Aqsa Vanguard statement
News Bulletin Reports
11:09
Hamas and Hezbollah dynamics: Hamas in Lebanon retreats on Al-Aqsa Vanguard statement
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
World News
10:25
US State Department set to impose sanctions on Israeli settlers in response to escalating West Bank attacks: Axios
World News
10:25
US State Department set to impose sanctions on Israeli settlers in response to escalating West Bank attacks: Axios
0
Middle East News
2023-12-01
Iranian President absent from COP28 conference in protest against Israel's participation
Middle East News
2023-12-01
Iranian President absent from COP28 conference in protest against Israel's participation
0
News Bulletin Reports
11:04
Bab el Mandeb Strait: Implications of Houthi attacks on ships
News Bulletin Reports
11:04
Bab el Mandeb Strait: Implications of Houthi attacks on ships
0
World News
12:05
Ukraine sees 'big risk' of losing war if US Congress postpones vital aid
World News
12:05
Ukraine sees 'big risk' of losing war if US Congress postpones vital aid
Videos
d-none hideMe
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
04:20
Hezbollah reveals Tuesday attacks on Israeli soldiers' gatherings
Lebanon News
04:20
Hezbollah reveals Tuesday attacks on Israeli soldiers' gatherings
2
News Bulletin Reports
11:09
Hamas and Hezbollah dynamics: Hamas in Lebanon retreats on Al-Aqsa Vanguard statement
News Bulletin Reports
11:09
Hamas and Hezbollah dynamics: Hamas in Lebanon retreats on Al-Aqsa Vanguard statement
3
Middle East News
03:41
Al Jazeera: Israeli army withdraws from areas in Gaza after 'violent battles' with the resistance
Middle East News
03:41
Al Jazeera: Israeli army withdraws from areas in Gaza after 'violent battles' with the resistance
4
Press Highlights
00:46
Hamas and Hezbollah: Strategic Coordination in the Face of Conflict
Press Highlights
00:46
Hamas and Hezbollah: Strategic Coordination in the Face of Conflict
5
Lebanon News
10:57
Israeli airstrike hits residential house in Mays al-Jabal, sparking fire and minor injuries
Lebanon News
10:57
Israeli airstrike hits residential house in Mays al-Jabal, sparking fire and minor injuries
6
World News
10:25
US State Department set to impose sanctions on Israeli settlers in response to escalating West Bank attacks: Axios
World News
10:25
US State Department set to impose sanctions on Israeli settlers in response to escalating West Bank attacks: Axios
7
Lebanon News
10:44
Tensions rise as UNIFIL alarms ring out amid Israeli shelling near Tayr Harfa-Jebbayn
Lebanon News
10:44
Tensions rise as UNIFIL alarms ring out amid Israeli shelling near Tayr Harfa-Jebbayn
8
Lebanon News
08:28
LBCI sources: Four Lebanese Army members wounded as a result of Israeli shelling near Odaisseh
Lebanon News
08:28
LBCI sources: Four Lebanese Army members wounded as a result of Israeli shelling near Odaisseh
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