Money transfer firms replace banks in crisis-hit Lebanon ...Saudi Arabia

ARAB NEWS - News
Money transfer firms replace banks in crisis-hit Lebanon
source : ARAB NEWS ( Saudi Arabia ) () 39
Sun, 2022-09-04 06:20 BEIRUT: Like many people in crisis-hit Lebanon, Elias Skaff used to wait for hours to withdraw cash at the bank but now prefers money transfer companies as trust in lenders has evaporated. Anyone who relies on traditional banks to receive their money “will die 100 times before cashing it,” said Skaff, 50, who has survived Lebanon’s three-year-old economic downturn with the help of US dollar payments from a relative abroad.Main category: Middle-East

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