Are big amounts of cash being withdrawn from banks in lebanon?

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forum100

New Member
Are big amounts of cash being withdrawn from banks and taken outside Lebanon?
 
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    forum100

    New Member
    I have withdrawn around 5,000usd this month.

    You know, its Christmas.

    Not your mentioned amount - Saving amounts in Lebanese Pounds equivalent to $1,000,000 or more, as an example.....
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    I told a bank I wanted to start an account with $10k last year because I became pissed off with Audi Jal-El-Dib. The teller at Byblos Zalka, said its not large enough for them to start an account. I said I dont carry cash and would transfer more once the account is established. She said to bring a bank check for a reasonable amount ??!! she pissed me off more.

    The moral of the story is that they seemed happy with their reserves and must have very cashed up clientele.
     
    Aoune32!

    Aoune32!

    Well-Known Member
    I told a bank I wanted to start an account with $10k last year because I became pissed off with Audi Jal-El-Dib. The teller at Byblos Zalka, said its not large enough for them to start an account. I said I dont carry cash and would transfer more once the account is established. She said to bring a bank check for a reasonable amount ??!! she pissed me off more.

    The moral of the story is that they seemed happy with their reserves and must have very cashed up clientele.
    Thats weird. Most accounts in the banks need like $1000 US to open.
     
    Tayyar9

    Tayyar9

    Well-Known Member
    To answer your question, no, not a lot is being withdrawn and transferred outside. But of course some people are switching from LBP to USD as a precaution
     
    Basba_aa

    Basba_aa

    Well-Known Member
    Are big amounts of cash being withdrawn from banks and taken outside Lebanon?
    NOTE;
    ALL Lebanese have to be aware of Obama's horrible FATCA, which the Lebanese National bank had willfully agreed to and blindly signed.

    The Lebanese National bank (Masrif Libnan) does NOT care if their citizens wealth gets confiscated by the US.

    So if you're a Lebanese with a US citizenship, living in the US or outside it or just a Lebanese with business affiliation in the US or outside it, or dealing with any American person or business, then your money in Lebanese banks are subject to audit and taxation by the US.
    This bill was signed into law by that dumb turd Obama around 2010, and he was wasting more money enforcing it than what he was hoping to confiscate. YES! Poor and hard-working people are included, the filthy rich will always get a free ticket.

    You are also liable even if at any time in the past you were a US citizen, then became a citizen of a different country, and even if you're living outside the US and its territories, you are liable according to that stupid law.

    You would think that the Lebanese National Bank would NOT bend over backwards and take a large one up its
    Gluteus maximus :)

    to save its fellow citizens from the big bully, but instead it is delivering ALL data to the US about you and your children and their children to a foreign government.

    JUST google FATCA and read the whole thing. It is disgusting, and ask your bank in Lebanon why are they making all the Lebanese diaspora sign affidavits and declaration of citizenship.

    That is why most Lebanese are withdrawing their money from the Lebanese banks, even foreign investors had stopped pumping money into Lebanon, and we now see the market at its worse decline.
     
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