The solution is to convert the “dollar” to 89,500 liras!

Dr. wrote. Muhammad Fahili in Asas: “Because of the lack of will of the political class, executive and legislative, and also because of the monetary authority’s entrenchment behind the failure of the ruling authority and using this as an excuse to freeze any serious rescue initiative. All that remains is to rely on the components of the private sector, which has demonstrated distinguished capabilities to withstand and adapt to economic changes. He was relatively successful in saving himself and recovering.”

Fahili continued: “Therefore, I call on the banks and bankers to take the initiative to launch a solution to the crisis, with regard to the banking sector, and each bank individually, to avoid “extinction.” Mansouri, and Salama before him, maintained all the banks at a high cost, paid for by deposit holders in local dollars. The monetary landscape has changed today, and the bank that procrastinates in launching the rescue wheel will face the fate of extinction. Positive and productive communication between the bank and the Lebanese community, from an individual and/or an institution, is a good, possible and necessary starting point. The most appropriate solution would not be to continue providing timid liquidity, which does not cure the suffering, but rather increases the feeling of frustration and injustice against depositors.

He added: “The solution is to allow account holders denominated in local dollars to convert their account balances (or part of them. The decision must rest with the holder of the economic right to the deposit) to the Lebanese pound at the exchange rate of 89,500 pounds per dollar (or any other reasonable exchange rate), and the bank will then leave.” Lebanon must manage liquidity and limit the disruptions that may occur due to the lack of oversight.”