The issue of money changers and manipulation of the dollar. Were Michel or Ramez involved? The Alankabout Spider – Lebanon News – Australia News

The Research Department is expanding the ATM file and manipulating the dollar exchange rate. After Michel Moktaf, the owner of the largest money transfer company, was summoned and listened to his testimony after a communication was established between him and the Soratino captain Mahmoud Mourad, who was arrested for altering the exchange rate, the Attorney General for Finance, judge Ali Ibrahim Turk, decided to have a residence document.

Relationship with Murad

Despite the legal validity of the relationship between Michel Moktef and Al-Sarraf, as a result of investigations in the Beirut investigation department, and leaving him with a residence document in the first file, Moktef will later be investigated in a second. file in the southern suburb detachment related to his relationship with Mahmoud Murad. However, according to an informed source, investigations were directed at Ramez Motif, the owner of a money transfer company, who is a close relative of Michel Maktif, unless there is a rumor about the names, and Ramez Motif is overheard. at the Beirut Research Department (as of publication date).

And the source claims that Ramsay has a strong relationship with Murad, and with other money changers, since he treats them by exchanging illegal checks, since the beginning of the crisis, in addition to speculating with the currency on the market. The same source reveals in his conversation with “cities” that he arrested more than one cashier who only deals with them and confiscates large amounts in his possession of approximately 400 and 500 thousand dollars, knowing that the capital of each of them does not exceed the 60 thousand dollars, which indicates that they are buying dollars from the market for the benefit of a cashier or major merchant.

Two companies are under suspicion

Commenting on the receipt of the names of Michel and Rams, who are only satisfied in the case, and the possibility of confusion between the two names, Attorney General Ali Ibrahim, in his conversation with Al-Modon, explains that the summons it was made against the two people, Michel and Rams, who are satisfied with both. And “the course of the investigations required leaving Michel with a residency document, while continuing the Ramez Maktef investigation. It is not possible to speculate where the investigations may go.”

In response to the reason for persecuting legal money changers who practice exchange activities, within the scope of their powers granted in accordance with the law, Ibrahim explains that, despite the legality of currency exchange agents and their trade with They, when the problem is related to the stability of money and the economy in the country, their work is clouded by impurities related to abuse. To national criticism and stability. He says: We, as a judge, do our job and try to control the legality and correctness of the work of cashiers. As for the rest of the problems, they are linked to the government’s economic plan and procedures. The overall objective remains economic and monetary stability.

Whisper between the two names?

The possibility of confusion between the names of Michel Moktef and Rams Moktef is not indicative of any acquittal. The investigations will establish whether one of them was involved in the issue of exchange rate manipulation or both. From here, Michel Moktef insists, in his talk with Al-Modon, that his company, which dates back dozens of years on the market, has never been associated with any illegal business. It has not operated in Lebanese pounds since February 2019. Do not sell or buy the lira. Their job is limited to sending the dollar to and from the country. He deals with banks and financial institutions “so that Rams is satisfied today and discredits the company,” says Michel, and insists that the name Ramiz is what is intended in the case, and should be investigated to clarify matters. Remembering that each of them has a completely separate and independent company from the other.

Power and bank

Although he only calls to review the main reasons that brought the country to where he is today, which are political reasons, he believes that the arrest of some of the money changers is possible, especially those that are not authorized by them. But the main crisis remains mismanagement by the Lebanese authorities. Treatment begins with the state making a final decision regarding the definition of a mechanism to deal with the Lebanese economy. Furthermore, the Banque du Liban must conduct through foreign exchange banking, and not limit the matter only to money changers.

What is really being sought is an invitation from the Banque du Liban to enter the foreign exchange market, through the banks. Your image will be clarified in the next stage. The Bank of Lebanon is developing, according to information from “cities”, a mechanism to limit dollar sales operations to importers on the online platform, which is expected to be established, or only through banks. But certainly not through the money changers. It is expected to determine the maximum limits that ATMs can treat. They are very low ceilings, which cannot exceed $ 5,000 for the operation.