After the inconsistency of information … Here is the fact that the roof of the withdrawals is raised from banks!

In light of the continuous financial crisis in Lebanon, many depositors wonder about the fate of their deposits and the expected procedures that may allow them to withdraw, especially with the recent talk about the possibility of accompanied the ceiling of the draws to stop the circulars of the Bank of Lebanon.

Economist Antoine Farah explains in an interview with “Lebanon Debate”, that “raising the current circulatory ceilings of the clouds will not take place before reaching an agreement on the financial gap law, which is an essential step to return money to the owners of deposits in an organized and studied manner.”

He believes that the issue of lifting ceilings in the circulars that allow depositors to withdraw, whether the circulars of 158, 166 or others, will not actually be implemented before agreeing on the financial gap law, and according to Farah information, this agreement will be decisive in determining the lifting of the ceilings, because it constitutes the legal framework for returning deposits with a value of one hundred thousand dollars and below.

He points out that “the depositor in this category will be able to withdraw his department over a specific period of time, estimated at 3 and 5 years, based on the current circulars, but with the upcoming agreement, the amount of raffles will gradually increase during this period to return the money in an organized manner.”

As for the depositors whose deposits range from one hundred thousand and one million dollars, it confirms that “there are still unconfirmed details until now, there is a possibility that this category will have special measures that differ from the first category, and a portion of their money may be returned in cash through circulars, and if this scenario is achieved, it is expected that the roofs of circulars will be raised to allow the withdrawal of larger quantities commensurate with this category, but it is not expected that All money ranging between one hundred thousand and one million dollars is returned in cash, it is likely that it is a part of it cash, while the other part will be returned through bonds or certificates of deposit in short periods of entitlement, compared to the accounts of large deposits that exceed one million dollars, which will be returned according to bonds worth between 15 to 20 years.

The post After the inconsistency of information … Here is the fact that the roof of the withdrawals is raised from banks! APPEROD First on 961 tobay Lebanon today.