Allen Merhej Profile picture
Still in the Rat Race. Ex Investment lawyer, Islamic finance expertise, nowadays into Real Estate Investments in Europe and the US
Aug 27, 2020 16 tweets 8 min read
So @BDL_Lebanon issued few circulars that, in my opinion, are breaching the law. It is not the first time #bdl breaches the law. I think it is time whosoever is claiming protecting the interests of the depositors to sue BDL & seek annulment of the circulars via the Conseil D'Etat @BDL_Lebanon previously restricted the access the the $ transferred by expats and confistxated these fresh dollars forcing the beneficiary to receive Liras and @BDL_Lebanon pocketing the $.
Jul 28, 2020 8 tweets 4 min read
Lebanon is considered a high risk jurisdiction for money laundering and corruption
Many intl banks and financial institutions refuse to open bank accounts for Lebanese companies
Transparency is needed and required at all levels

Fact 2:
Reputable jurisdictions provide full access to the names of officers, directors, accounts, shareholders of the registered companies companies
Opaque jurisdictions or Tax Haven usually do not have a public record for the companies.
May 24, 2020 20 tweets 7 min read
I started recently looking at the saving plans with the insurance firms in Lebanon and where the money has been invested. Few comments: 1- the client does not have a clue where the money is invested. When you ask you do not receive a clear answer. No transparency. No reporting. No relevant benchmark for dividends payments.
2- fees are not clear nor disclosed to the client.
& this is a case study from Allianz SNA