The law becomes effective after the President of the Republic signs it, and the Governor of the Banque du Liban, Riad Salameh, issued a circular requesting the transfer of funds through banks and not through money changers.
Al-Akhbar learned that Salameh pledged to implement before Parliament Vice President Elie Ferzli, a delegate from Speaker Nabih Berri, to verify the solvency.
Parents who do not have bank accounts are waiting, according to association member Sami Hamia, to transfer funds to their children through banks and not through money changers, and the experience will not be repeated in terms of non-compliance with the circulars of the Banque du Liban. And in the event that the banks did not adhere to the law, Hamiyah confirmed that the association would resort to the judiciary, pointing out that “we were able to bring the project to safety after being removed from political tensions, quotas, and exploitation by merchants.”
The General Assembly of the Representative Council approved the law, as amended by the joint parliamentary committees, and stipulates “to oblige banks operating in Lebanon to spend $ 10,000, according to the official exchange rate of the dollar, for the academic year 2020-2021 for university students studying abroad before 2020 – 2021, and banks must make a financial transfer, the value of which does not exceed 10 thousand dollars, and one time for every Lebanese student registered in universities and higher technical institutes outside Lebanon from their accounts or their parents’ accounts in foreign or national currency according to the official exchange rate of the dollar (1515) after Verify that an affidavit of registration, an affidavit for payments made before December 31, 2019, the current housing lease contract, or a receipt for the last monthly payment. “Read the full article Press here.
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