SAWT BEIRUT INTERNATIONAL

| 26 April 2024, Friday |

Expired “Capital Control” only suitable for bartering between system’s pillars

A Trojan Horse, this is what the “Capital Control” law has always been to everyone, who wants to storm the hearts of the Lebanese, and the depositors in particular, especially before May 15th, the date of the parliamentary elections. However, the Cabinet’s approval of this law, after adding some amendments to it, will not be able to gain the confidence of the “International Monetary Fund” first, and will not return the depositors’ money, after the bank coffers have been emptied, and the obligatory reserve has become in a stage of dispute, according to what a special source has told “Sawt Beirut International.”

According to what the source said, it is necessary to return to the path this sterile achievement has taken, since its introduction to its approval, before applauding it. As this “Capital Control” bill, which was sent through illegal crossings to the House of Representatives, whose doors were almost closed after the end of the session called for by the Parliament Speaker, Nabih Berri, was signed hastily in Mikati’s cabinet, which was preceded by a temporal unstability in the proposal of confidence in his government.

However, he retreated, out of his desire to hold the parliamentary elections, according to what he stated. However, the observer of the events that accompanied the birth of “Capital Control” must pass on some of the events that prompted its approval, which were represented by a clear barter, especially the arrest of the brother of the Governor of the Banque du Liban, Raja Salameh, and the governor’s abstention from Appear before the Appeal Public Prosecutor in Mount Lebanon Judge Ghada Aoun, who prevented 6 banks from making bank transfers abroad, and despite the annulment of her decision, things continued, but this time through leaks about freezing the ruler’s property and money in several European countries, and scenarios have begun to emerge about Riad Salameh’s readiness to submit his resignation, while other leaks have begun to talk about an alternative to him and many names have been placed on candidates’ list.

The picture was crystalized when the first investigative judge in Mount Lebanon, Nicolas Mansour, decided to release Raja Salameh in return for a financial guarantee of 500 billion pounds, equivalent to 20 thousand US dollars. However, Judge Aoun appealed the decision before the indictment and requested that he be kept in detention, while Judge Mansour postponed the questioning of the Governor of the Banque du Liban in the Public Prosecution’s lawsuit against him, for the offense of “money laundering and illicit enrichment” until June of this year to decide on the formal defenses submitted by his attorney, Chawki Kazan.

And thus, the source considers that “the approval of the Capital Control” removed the specter of the Governor of the Banque du Liban’s appearance, until after the parliamentary elections. So, the following equation was used as a “solution” that satisfies the third presidency on the one hand, and the first that obtained a trump card that publicized it in front of the voters, with the promise of accountability for whoever has wasted money, until after the polls were closed, but the sad reality is that the money that was wasted on subsidies and smuggling of depositors’ assets, cannot be recovered, and what is left in the treasury will not be protected by the newly signed “Capital Control,” because it expired two years ago.

    Source:
  • Sawt Beirut International