Graffiti in Beirut’s Downtown, Aug. 7 2025. (Credit: P.H.B)
BEIRUT — Financial Prosecutor Judge Maher Chaito has issued a landmark decision, “based on ongoing investigations,” requiring both individuals and legal entities – including bankers — to repatriate to Lebanese banks sums equivalent to amounts they transferred abroad during the economic crisis — or after Oct. 17, 2019, and “in the same currency,” Lebanon’s National News Agency (NNA) reported Thursday.Funds are to be reintroduced into the Lebanese banking system “within two months,” and “under the supervision of the Financial Prosecutor’s Office and in accordance with the conditions it sets,” it further said.Since the crisis erupted in 2019, political deadlock has prevented the passage of formal capital control legislation – a key condition set by the International Monetary Fund (IMF) to unlock a rescue package. In the meantime, billions...
BEIRUT — Financial Prosecutor Judge Maher Chaito has issued a landmark decision, “based on ongoing investigations,” requiring both individuals and legal entities – including bankers — to repatriate to Lebanese banks sums equivalent to amounts they transferred abroad during the economic crisis — or after Oct. 17, 2019, and “in the same currency,” Lebanon’s National News Agency (NNA) reported Thursday.Funds are to be reintroduced into the Lebanese banking system “within two months,” and “under the supervision of the Financial Prosecutor’s Office and in accordance with the conditions it sets,” it further said.Since the crisis erupted in 2019, political deadlock has prevented the passage of formal capital control legislation – a key condition set by the International Monetary Fund (IMF) to unlock a rescue...
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