Lebanese Banks Say Disaster Stalls Foreign exchange Switch In £ 3M Go well with


Law360, London (March 2, 2021, 3:21 p.m. GMT) – Lebanese branches of Societe Generale and Financial institution Audi have stated their refusal to simply accept a shopper’s foreign money switch request doesn’t violate monetary guidelines in order that the nation is ravaged by an financial disaster and the coronavirus pandemic.

Banque Audi SAL and Société Générale de Banque au Liban SAL have said in separate defenses that they don’t have to simply accept a request to switch cash overseas within the context of the extreme financial and banking disaster which shakes Lebanon.

Each lenders stated in paperwork filed Feb. 17 within the Excessive Court docket, which had been just lately made public, that they’re …

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