| 29 November 2023, Wednesday |

Banking sources say focus should be on how to stop unlawful and unethical funding of state

Banks have entered the debate over how the state’s financing from the central bank will be continued, expressing surprise that the crisis has been reduced to disagreements over who should bear responsibility for continuing the spending from depositors’ funds, as if the only goal is to find a framework to continue the illegal spending using the remaining deposits at the Central Bank.

Banking sources stressed that the focus should be on how to block the state from receiving illegal and unethical fundraising from its citizens’ funds.

The sources laid a roadmap to avoid touching the remaining depositors’ funds, pointing out that the requirement is not to impose new taxes but for the authorities to take the necessary steps to collect taxes. The paralysis affecting its administration hinders those willing to pay their taxes, and all departments that facilitate fee collection should be reopened.

“Is it permissible for the state to forcibly borrow from depositors’ funds and not make simple efforts to collect its money from the market?” the sources asked.

  • LBCI