Who benefits from the 0% interest?
- Central Bank Gov. Riad Salameh announced that the Central Bank of Lebanon (BDL) had issued a circular on Monday to help the Lebanese during this difficult stage. The circular requires that banks grant exceptional loans to their clients with previously granted loans at zero percent interest, provided that the BDL in turn, bails out the concerned banks the value of these loans at zero percent interest.
- WHO BENEFITS FROM THE 0% INTEREST? This circular does not target all depositors, but rather those who currently have loans. These exceptional zero-interest loans are either to pay off loan installments previously granted, or to pay the salaries of employees of client companies or cover their production or operational needs. The aim of these loans is to prevent mass bankruptcies in companies and prevent credit defaults that will negatively affect the banking sector.
- Due to the state's continued neglect of Akkar, Halba revolutionaries collected in-kind donations and distributed them to the neediest families. The revolutionaries called on their townspeople to "stay home for the sake of our village", remarking that "with sectarian corruption and the absence of a state solidarity becomes necessary."
All Cases Postpones Except for the "Most Urgent"
- State Prosecutor Ghassan Oueidat issued two circulars to all security bodies due to the escalating public health crisis.
- 1. In order to reduce prison overcrowding, security bodies will coordinate with the Beirut Bar Association to expedite the release of prisoners whose cases have been approved.
- 2. With public offices and justice palaces shut down due to the public health crisis, security personnel are advised to release arrested individuals who have been in custody for more than 24 hours and refrain from making arrests unless absolutely necessary. If an arrest is necessary, then security personnel will have to make due with conducting the interrogation via digital channels.
COVID-19 Update
- 19 new cases, 267 cases, 8 recoveries, 4 deaths
- Notre Dame des Secours University Hospital in Byblos announced that five of its nursing staff, who had been quarantined for 15 days after contracting COVID-19, recovered after testing negative twice.
- Former Minister of State for Administrative Development May Chidiac tested positive for COVID-19. She is the second political personality to have tested positive after former Minister Mohammad Safadi.
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