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Banks Have 'No Problem' in Hiking Tax on Deposits Interest

May 06

Banks Have 'No Problem' in Hiking Tax on Deposits Interest

Lebanon's banks have no problem in seeing the tax on deposits interest rise from 7% to 10%, as proposed in the draft state budget, ministerial sources said.

'Banks have never hesitated to back the Lebanese economy... but it is unacceptable to blame them for everything, as if they are alone responsible for providing solutions to the economic crisis,' the sources added in remarks to Asharq al-Awsat newspaper, in response to Hizbullah chief Sayyed Hassan Nasrallah's call that banks contribute to the needed solutions.

'He should have raised what is needed from the government parties, which should shoulder the responsibility of slashing expenditure,' the sources went on to say.

Baharnet