Lebanese security forces stand guard outside a Fransabank branch in Saida, southern Lebanon, on April 25, 2020, after unidentified assailants targeted the bank's entrance with an explosive device. (Credit: AFP)
This marks a resolution in one of the most highly publicized disputes between depositors and banks since the onset of Lebanon’s 2019 economic and financial crisis. Egyptian national Ayad al-Gharabawi Ibrahim, a Fransabank client whose accounts were closed in 2021, received, through the judiciary on July 16, two “fresh” U.S. dollar checks and one check in Lebanese liras. This payment, obtained through enforcement proceedings and covering the entirety of his deposits, is unprecedented in Lebanon, according to the Muttahidoon collective, which represented the depositor. The amount totals $34,120 in deposits, $13,818 in interest and about 30 million Lebanese liras in enforcement fees, the group said. From our archives Court rules in favor of two depositors against Fransabank on procedural point Contacted by L’Orient-Le Jour, Fransabank...
This marks a resolution in one of the most highly publicized disputes between depositors and banks since the onset of Lebanon’s 2019 economic and financial crisis. Egyptian national Ayad al-Gharabawi Ibrahim, a Fransabank client whose accounts were closed in 2021, received, through the judiciary on July 16, two “fresh” U.S. dollar checks and one check in Lebanese liras. This payment, obtained through enforcement proceedings and covering the entirety of his deposits, is unprecedented in Lebanon, according to the Muttahidoon collective, which represented the depositor. The amount totals $34,120 in deposits, $13,818 in interest and about 30 million Lebanese liras in enforcement fees, the group said. From our archives Court rules in favor of two depositors against Fransabank on procedural point Contacted by L’Orient-Le Jour,...
In infographics: How 4 months of Israeli attacks and war devastated Lebanon