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Mohammad shoaib
Every time we open our eyes to the reality of the banks in Lebanon, and this is after the penetration of a group called “Spiders” Al-Qard Al-Hassan, in which he disclosed the data of the budgets and documents of the Hezbollah’s bank, which that group described as illegal.
The “Good Loan” Foundation, which was founded by Hezbollah in 1982 under the cover of an association, later transformed it into a banking sector synonymous with the Lebanese banking sector, and has 31 branches throughout Lebanon.
In recent days, the “good loan” has been the subject of a major attack that followed the words of the president of the Progressive Socialist Party, Walid Jumblatt, who said during one of their conversations that Hezbollah is installing an ATM in their regions. . Withdrawal fees reach $ 5,000 in cash, while the Lebanese citizen “uncle”. It slows down at the banks. “
At the same time, others defended the “good loan” as the only financial institution in Lebanon that continues to give its depositors money in US dollars.
However, a big problem looms on the horizon, as there are likely to be tough US measures against banks, specifically the Bank of Lebanon, similar to what happened with the Canadian Lebanese Bank and the Jammal Trust Bank, after the size of the association’s penetration, which revealed its cooperation with large Lebanese banks.
Mohieddin Al-Shuhaimi, professor at the Paris School of Business and Graduate Studies, and legal and strategic advisor and expert for the European Commission, believes that the emergence of the good loan file is now due to its transformation through the method of modification through the chronological amendment of its law according to the current circumstances in a banking financial institution as well as banks, so that the conventional change of addresses is not dedicated A new legal nature, but the matter turned out over time and benefiting from the Lebanese reality current and somewhat fraudulent with legal loopholes in this way, in terms of content, it is related to the direct and public use of ATMs and hard currency ATMs and with relatively high ceilings depending on the stage, which makes it superior to banks de Without being a bank, it plays another role with a different dimension. The banks have avoided the dollar while dealing with it, and this is only provocative, especially since it is not a bank, which is reprehensible and not coordinated with the governing central, especially because the good loan speaks of contributions and not of deposits from any shareholder and not from depositors, which takes us. To an inevitable manipulation of the name and even the basic content.
Regarding the increased economic dominance over Lebanon, Dr. Al-Shuhaimi said that what happened to the public about the good loan will negatively affect the course of the Lebanese situation, especially since the institution is included in the checklists and international sanctions, and in an abstract way it has become part of the black market because it is the only non-bank entity that injects fresh dollars into the Lebanese market for a certain category and in specific places and is on its own. Questionable as if it were the fictitious or hidden member of the banking team, but rather agreed with them to secure and meet the cash needs, and this is what made those who manage it benefit and control the irregular exchange rate of the dollar and the black market, which increased and will increase Lebanese anguish over the issue of the fate of the currency, which was undoubtedly an important part of the issue. Inflation, additional price fluctuation, the weakening of the national currency, and the rise in the dollar exchange rate, which alone can increase economic dominance over the country.
And Dr. Al-Shuhaimi emphasized that the issue of US or international sanctions does not depend only on the issue of some activities of banks and financial institutions, but has to do with the approach of the state. The institutions are mainly shadowed by fighting corruption and limiting deals with the Syrian regime and its allies (Caesar – Magnitsky), and continues within this series, and of course the banking system and the financial system within this model, and we are not reminded of what happened to both the Camel Bank and the Libnese Canadian Bank, resulting in the sanctions according to their sources. It will continue and it will be more specific and will be directed to all members of the political class, not by factions or sectorals, but rather comprehensively. Perhaps the recent congressional decision No. 681 on the Beirut port bombing reflects the desire to continue upward in this approach and out of solidarity with the Lebanese people and the existence of tangible administrative deficiencies and negligence.
Regarding the accusation of some reports, Hezbollah of using the good loan to launder their money, Dr. Al-Shuhaimi that saying and affirming verbally, improvised and ad hoc, we have entered into unprofessional matters, be it in law and even in politics and economics, since the institution is 30 years old and not new, and that the appropriate body that should inform us on this issue is the Lebanese government and the Central Bank, it is a financial issue and the reference Lebanese laws apply and are many and there is no place to mention them all here. Rather, the matter requires entering into the legal regulation of ATMs in Lebanon and Law No. 33/99 promulgated in 1999, which somewhat expanded the mission of the Banque du Liban and stipulated in Article 70 of the Law. of Currency and Credit, with the power to impose fines and sanctions, in addition to Resolution No. 7299 issued in 1999 related to ATMs and credit cards, modified by Resolution No. 8216 of 2002, since the matter really needs , and due to its sensitivity, an investigation and verification to clarify the origin and rectify the matter before it decomposes and decomposes in such a way that its consequences become inevitable, since a valid reference requires immediate intervention. To show the origin.
In defense of some of the good loans and considering it the only bank that did not touch the deposits of its clients, Dr. Al-Shuhaimi is that the matter is not apt to translate the justifications and private points of view, of course the beneficiary will defend and the non-beneficiary will raise his voice and attack and this is natural, since the main issue is to clarify whether this issue is legal or not, especially as it relates to a delicate Lebanese issue and plays its strategic chord, which is the issue financial. And the banking system, and this would cause a shock and something not benign, and Lebanon is indispensable, so the matter requires dealing with it firmly, not tweaking and circumventing the laws in the language of the de facto situation and sticking to the standards. transparency and respect the sovereignty of the State. Otherwise, we have this adventure and it is not really necessary.
And concluded d. Al-Shekhaimi stated that Lebanon as a whole is at the bottleneck and at the heart of the problem and that it is in a serious crisis that threatens its existence and continuity and threatens it also as an active member of the Arab and international system. He pointed out that the good loan problem is only part of this issue, but it is a dangerous part dedicated to regional economic systems and parallel financial systems, and creates more social injustice and instances of provocation at the popular level and a further separation from the collapse. of the lady’s state image, and emphasized the need for all parties, especially Hezbollah, to deal with transparency in all stages and circumstances, as required by the interests of the state, and has become imperative for them deal with seriousness, technique and professionalism, and not nominal, because Lebanon suffers more and is closer to the bottom, which has no bottom.
