Johnny Kortbawi, 2024-01-30 12:40 - Reading : 3 minute(s)
The average Lebanese citizen used to earn a modest salary. For the sake of this story, let's assume that this income was a hundred Lebanese pounds. However, it’s important to clarify that here, the pound is a mere fictional currency, as in reality, a hundred lebanese pounds is not a typical salary in a country like Lebanon, where the pound ...
This Is Beirut, 2023-12-08 19:25 - Reading : 3 minute(s)
Eleven Lebanese banks have initiated legal action by asking the Ministry of Finance to compel the government to repay its debts to the Central Bank (BDL). The purpose of this action is to enable the banks to fulfill their commitments to depositors. One of the lawyers representing the group of eleven banks, barrister Elie Chamoun, explained the ...
This Is Beirut, 2023-12-06 19:51 - Reading : 2 minute(s)
Eleven Lebanese banks have tied up the dispute by submitting a memorandum to the Ministry of Finance to compel the state to fulfill its legal and contractual obligations toward Banque du Liban. Eleven banks, namely, in alphabetical order: Bank Audi, Bank of Beirut SAL, Banque Libano-française SAL, Banque Libano-suisse SAL, Banque du Crédit ...