Salameh: Money Transfer Firms Must Not Pay in Dollar to Recipients

إقرأ هذا الخبر بالعربية W460

Central Bank Governor Riad Salameh on Monday called on all money transfer companies operating in Lebanon, such as Western Union and OMT, to exclusively use Lebanese currency when dispensing foreign cash transfers to recipients.

Central Bank sources told LBCI TV that the request is aimed at combating money laundering.

“All firms that carry out cash transfers with electronic means must pay the value of electronic transfers coming from abroad exclusively in Lebanese lira,” Salameh says in his memo.

The memo does not mention or affect bank transfers.

SourceNaharnet
Comments 11
Thumb s.o.s 14 January 2019, 19:27

Oh-oh! Ain’t good at all!!!!

Thumb whyaskwhy 14 January 2019, 19:50

God help our Lira's future many thousands will go hungry if it does drop.

Thumb s.o.s 14 January 2019, 20:19

Well, many banks have been offering 12% on the LL... which means that in five years you double your money, this isn’t sustainable! From what I’ve been reading, banks who loaned money to the State should expect getting 30 cents on the dollar. So so bad.

Thumb whyaskwhy 14 January 2019, 23:34

Lack of leadership in Lebanon has banks paying highest interest rates on deposits. Historical the banks sensing a decline for the lira have raised interest rate up-to 25% (in 1980-82) however the fall out has been the lira eventually experiences devaluation. Many remember the horror stories of those who invested their last nickel in the lira hoping to make the common 15% interest rate pay off for only to find the currency to drop shy of a figment of what it used to be. The common denominator here with the early 80's is that syria weakened the economy and lack of Lebanese leadership....

Thumb s.o.s 15 January 2019, 00:51

Just heard banks were offering up to 19% on the ل.ل.

That’s insane !

Missing servant-of-jesus 15 January 2019, 01:33

"Central Bank sources told LBCI TV that the request is aimed at combating money laundering."
who believes this lie?

Missing bigjohn 15 January 2019, 02:46

In a decade the The American debts bankrupt dollar will be replaced by the Chinese, Russian, and Crypto currencies.

Thumb liberty 15 January 2019, 05:24

Why don't you take the lead ya troll and start saving in Russian Rubels.

Thumb s.o.s 15 January 2019, 19:01

Venezuelan Bolivars, Russian Rubles , Turkish Liras, Iranian Rials is what big john believes in lmfao.

Thumb commirade.vlad 15 January 2019, 17:42

Tovarishch bigivan we say american bankrupt will fall for 70 years we idiots then, you idiot now, da!

Thumb liberty 15 January 2019, 05:26

"the request is aimed at combating money laundering"

and how much can one transfer via Western Union for it to be considered "money laundering"?

What a joke! They are short on dollars and the economy is collapsing.