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It says in “Al-Markazia”:
A legal reference, which was considered through centralization, that “Governor Salameh is not used to violating the laws that govern monetary policy in the country, and that is why he is willing to respect the laws and regulations in force … and this is what he demonstrated throughout his tenure.
And he said: The mandatory reserve, then, is a trust in the custody of the Central Bank for the benefit of depositors who have trusted the Lebanese banking system.
He also considered that “touching these deposits deals a fatal blow to the remaining confidence in the Lebanese banking and legal system,” and continued: Furthermore, the mandatory reserve is not a deposit that the depositor and the commercial bank voluntarily agreed to place in the Banque du Liban, but a mandatory deposit that has no other choice. Rejecting or accepting it. Its function is exclusively to mitigate the commercial risks of the deposits of private depositors.
In light of all this, the reference concluded by saying: “Just thinking about touching these deposits is a criminal offense against depositors and Lebanon.”
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