Representatives of economic organizations received by then President of Lebanon Michel Aoun, at Baabda Palace, September 2022. (Credit: National News Agency)
The economic bodies, who have been fiercely opposing for almost two months the Finance Ministry’s plan to introduce a tax on the exceptional profits made from the bank loans repayment in foreign currencies during the crisis, should once again count on the support of the powerful banking lobby.“The economic bodies and Association of Banks in Lebanon (ABL) reached a tacit agreement to adopt a joint position on the possible tax introduction,” a source with the economic bodies told L’Orient-Le Jour.Since the crisis commenced, most professionals and individuals with bank loans in foreign currencies have taken advantage of the fluctuating exchange rate to pay back their loans at a much lower cost. Read also ADQ in talks with Bank Audi to acquire Odea Bank: Bloomberg Sources at the Finance Ministry told L’Orient-Le Jour that the latter...
The economic bodies, who have been fiercely opposing for almost two months the Finance Ministry’s plan to introduce a tax on the exceptional profits made from the bank loans repayment in foreign currencies during the crisis, should once again count on the support of the powerful banking lobby.“The economic bodies and Association of Banks in Lebanon (ABL) reached a tacit agreement to adopt a joint position on the possible tax introduction,” a source with the economic bodies told L’Orient-Le Jour.Since the crisis commenced, most professionals and individuals with bank loans in foreign currencies have taken advantage of the fluctuating exchange rate to pay back their loans at a much lower cost. Read also ADQ in talks with Bank Audi to acquire Odea Bank: Bloomberg Sources at the Finance Ministry told L’Orient-Le Jour that the...