Suspect of a bank that smuggles dollars


Investigations with the money changers revealed that the Société Générale bank was involved in smuggling dollars out of Lebanon. The head of the bank’s cash operations, Karim Khoury, who was arrested before investigators using the salaries of public sector employees and depositors to buy dollars to ship them out of Lebanon, was arrested. The talk here is not about converting dollars through the usual transfer systems (that is, transferring the amounts on the screens and in the restrictions), but rather about shipping money (paper dollars) after purchasing them from the market in Lebanon.Cashiers’ arrests, with a signal from the Financial Prosecution Office, led to suspicion of the SGBL bank’s cash operations manager. The investigations conducted by the Al-Dahiyya Judicial Detachment revealed that Khoury purchased large quantities of dollars and shipped them out of Lebanon through a banking and shipping company. The most dangerous thing of the arrested person, Karim Khoury, was that the liquidity in the Lebanese currency in which the “Société Générale Bank” used to buy dollars came from the salaries of employees in the public sector that the state transfers to banks, and that one of the sources of lira and dollars was the management of monetary operations in the central bank, which he undertook. The arrested Mazen Hamdan. Security sources revealed to Al-Akhbar that Khoury stated that they were taking from the salaries that the state transfers to public sector employees on the grounds that the banks were “distributing” salaries to employees within a pre-determined withdrawal ceiling for each week, so that the account holder has no right to withdraw more than the amount specified for him . The bank used to dispose of the remaining salary by buying dollars from money changers to ship them out of Lebanon, while the bank where it works, and the rest of the banks, deprived the depositors of their savings, even if they were crumbs.
The banks have unlawfully set a precedent for impounding people’s salaries, and have given them their rights in batches. In the event that what was stated in the preliminary investigations is proven correct, the banking sector will be facing a heavy-caliber, multi-faceted scandal: There are banks that take advantage of the procedures for “installments” of salaries to use the employees ’wages to purchase dollars and then ship them out of Lebanon. The information stated that the thread that delivered to Khoury was the cashier, Walid Al-Masry, who sold quantities of dollars to the aforementioned director, who bought the dollars according to sums he obtained from Hamdan himself.
According to Al-Masry’s statement, Khoury was summoned to the Al-Dahiya Judicial Detachment to be interrogated on Monday.

Suspect of a network of bankers and cashiers who pull dollars from the market for overseas shipment

On that day, the Malian Attorney General Ali Ibrahim left him under investigation, to be called back to the investigation yesterday, as Judge Ibrahim indicated at night his arrest. According to relevant sources, the expansion of investigations into this case may reveal the involvement of other banks, other than the “Societe Generale”, in buying dollars from the market and shipping them abroad, which leads to an increase in pressure on the lira, and an increase in the price of dollars in the parallel market. The sources pointed out that the suspicion is not confined to the aforementioned bank, but that what is available in the possession of investigators allows to talk about “a network composed of money changers and managers of banks and money transfer companies involved in withdrawing the dollar from the market to ship it out of Lebanon, under the auspices of within the Bank of Lebanon.”
Sources from the «Société Générale Bank» responded that they are entitled to buy dollars to meet the needs of customers. She confirmed that every step taken by the bank was legal. The sources saw that there is no bad intention towards anyone, noting that it is strange for the bank’s treasurer to be arrested for a “crime” of buying the dollar and accusing us as a “Societe Generale” bank of causing the deterioration of the price of the lira. The sources considered that it is in the interest of the bank for the lira to be strong because the bank loses the lower the price of the lira. The sources asked, “How is it possible that we seek the deterioration of the price of the lira to harm ourselves … that is illogical!”


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