AMMAN — Several lawmakers have called on the
government to intervene to return millions of US dollars that are deposited in
Lebanese banks and belong to Jordanian individuals, institutions, and
companies.
In a memorandum
sent to the Lower House Speaker
Abdul Karim Al-Dughmi on Monday, deputies said
that the government should intervene to repatriate a total of $1.2 billion,
equivalent to JD840 million, that were deposited by Jordanian individuals,
institutions, and companies in Lebanese banks and that have been frozen on the
recommendation of the Central Bank of Lebanon, funds that would support the
local economy and could be deposited with Jordanian banks.
The deputies
said they understand the economic situation that Lebanon is going through, “but
this does not absolve us of the duty to ask the government to intervene quickly
to return the funds”.
Last year,
Secretary-General of the
Union of Arab Banks in Jordan Wissam Fattouh said in a
statement that he does not expect Lebanese banks to go bankrupt.
Instead, Fattouh
said that Lebanese banks will likely undergo mergers or acquisitions as a
result of the crisis
He also affirmed
that “the money of Lebanese or Jordanian depositors or others will not be
lost”.
Since the autumn of
2019,
Lebanese banks have largely prevented ordinary depositors from accessing
their dollar savings or transferring them abroad. The majority of foreign
clients, including Jordanians, deposited their money in Lebanon following the
2008 global financial crisis, when Lebanese banks were offering interest rates
that were at least three times higher than what was being offered by local
banks.
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