“Ca va sans dire, mais ca va mieux en le disant” (it goes with out saying, but it surely goes higher saying it) stated Charles De Gaulle: Lebanon has change into a de facto money economic system. With banks holding all our cash hostage, with banks doing every kind of methods to take cash once you deposit, switch, or withdraw (currently, they’re charging 70 USD to retrieve cash coming from overseas). Cash switch techniques (corresponding to OMT/Western Union or Want or BOB Finance) have change into the way in which individuals deal with cash versus banks.
A convention about “Monetary Crime and Money Financial system” is being co-organized by Holy Spirit College of Kaslik and Rethinking Lebanon (helmed by the intrepid Jihad El Hokayem) in collaboration with the Lebanese Military. This convention will convene specialists to handle the rise in monetary crimes ensuing from Lebanon’s shift to a money economic system. After all, the concept is that with only a few selections the Lebanese have, what’s one of the simplest ways to cease cash laundering and such different crimes now that money is probably the most used means in Lebanon.
The convention will primarily focus areas are figuring out new illicit money move developments, evaluating insurance policies to spice up money transparency, bettering cross-sector data sharing, and constructing consciousness. It’s to be famous that as per the World Financial institution the extreme financial and monetary disaster Lebanon is enduring is prone to rank within the prime 3, most extreme crises episodes globally for the reason that mid-nineteenth century.
Specialists will even look at options to scale back overreliance on money, together with restoring belief in banks, increasing digital funds (comic story, final time I used to be at my financial institution, I signed papers for the renewal of my card however – the particular person dealing with my software didn’t give me the stated card, nor did I ask for it – why? As a result of the cardboard is nugatory at this level since no cash comes into it!), implementing centered money rules, and incentivizing formal monetary providers. The objective is to advance a coordinated response that combats monetary crimes whereas contemplating financial and inclusion impacts as Lebanon transitions away from a cash-based system.
The convention will probably be held at Jean Paul II amphitheater, USEK campus – Jounieh, on March 26, 2024 from 9:30 AM till 2:30 PM. The utmost capability of the amphitheater is 1350 attendees in particular person. Nonetheless, you’ll be able to tune in to a reside stream on zoom or dive into an immersive metaverse expertise, the convention will probably be additionally lined by numerous media shops and channels.
