She added: “The Central Bank says that it does not prevent banks from withdrawing the amount they want from the liras in their possession. Rather, he sent her a letter specifying the highest ceiling for withdrawals from the so-called“ current account ”, ranging between 2 billion and 5 billion pounds per month, varying according to the size The bank’s capital. Previously, banks used to get what they wanted from this account. Now, if banks wanted to obtain a larger amount of liras to cover the demands of their customers, every increase would be written off either from the banks ’frozen accounts at the« Central »and they were getting interest in return for it. For example, if the interest on the deposit certificate is 10%, and there are 5 years left to be due, and Bank X requests amounts in pounds that exceed the “quota” allocated to it, the interest will be written off for all years The maturity and not only for the current year. This procedure is considered by the banks as a “loss” for them, after the Bank of Lebanon became the semi-sole customer for the banks, and no longer has another “source of revenue.” She used to withdraw it monthly The bank heard an accusation from Salama to the banks that they “take the pound and exchange it for dollars at the money changers!” To read the full article, press Here.
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