Lebanese caught between old and new $100 banknotes

Lebanese caught between old and new $100 banknotes
Money transfer companies were also said to have refused to deal with the older notes. (Shutterstock)
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Updated 08 December 2021

Lebanese caught between old and new $100 banknotes

Lebanese caught between old and new $100 banknotes
  • Banks and money changers deny taking commissions on old bills

BEIRUT: Lebanese money changers refusing to accept older $100 banknotes, known as “white notes,” is causing confusion, particularly after some people were charged an extra $5 fee for exchanging $100 white bills.

Dozens of customers flocked to banks to learn more about the news, especially since some of the white $100 notes were issued by banks.

A customer told Arab News: “Every Lebanese is keeping a stack of $100 bills in their home for when they need them the most since the banks confiscated our deposits, and no one dares to deposit a single dollar in the bank nowadays.”

He added: “I went to my bank to inquire about this new rule adopted by money changers. My daughter told me that one refused to exchange the $100 that she gave him, claiming it was an old edition and he had the right to take $5 as commission if she wanted to exchange it. Who gave them the right to do this? I, my wife and my children all work and we save whatever we make in dollars. Does this mean that our savings have become worthless?”

He said: “The bank manager told me that the problem is with money changers, not banks, since they do not have instructions to stop dealing with the old $100 bills; on the contrary, banks are using both the old and new editions. He suggested that I occasionally bring him $200 to $400, in exchange for which he would give me $50 bills until the issue with money changers is resolved.”

Over the past few days, the topic of “old, white” $100 and the “new, blue” $100 banknotes has dominated conversation.

Money transfer companies were also said to have refused to deal with the older notes. Some money changers have taken advantage of the ambiguity to impose a $10 fee for exchanging white $100 bills.

The confusion was said to said to have been stirred by one of the largest money shipping companies, shut down after it was subject to a judicial investigation into smuggling funds abroad after Oct. 17, 2019 — when the financial crisis hit Lebanon, and in light of which Banque du Liban froze transfers inside and outside Lebanon.

Mahmoud Murad, former head of the Syndicate of Money Changers, told Arab News: “This fad has been circulating in the Lebanese financial market for about a week now. We do not know its source, nor who invented it. The problem is that people believe anything in Lebanon.”

He added: “People who come to my business to buy dollar bills only accept the blue-colored edition now. We, as money changers, are buying and selling both the old and new editions; nothing has changed.”

Murad said: “If the $100 notes are worn-out or torn, we buy them from people but never sell them again. Instead, we give them to shipping companies to return them to the US and replace them with brand-new ones.

“But everyone in Lebanon is now a money changer. The Lebanese, the Syrian, the Sri Lankan, the Bengali, the supermarket cashier, the butcher, all engage in exchanging money. Money changers should not be blamed for this.”

Murad said that the Syndicate of Money Changers met on Wednesday and stressed that all money changers follow legal and moral rules when dealing with customers.

However, Banque du Liban revealed in a statement on Wednesday that “some banks and money changers have charged fees for exchanging $100 banknotes, claiming that they are outdated.”

It added: “The specifications of valid $100 notes are determined by the Bureau of Engraving and Printing, an agency affiliated with the US Treasury,” noting: “BDL alone determines the specifications of valid Lebanese currency.”

The US Embassy in Lebanon also stated on Wednesday that “it is US government policy that all designs of Federal Reserve notes remain legal tender, or legally valid for payments, regardless of when they were issued. This policy includes all denominations of Federal Reserve notes, from 1914 to present.”

Meanwhile, the Association of Banks in Lebanon announced that “after the great controversy surrounding some money changers taking commissions on old $100 bills, ABL would like to clarify that Lebanese banks deal with banknotes without any amendment to existing procedures. No additional fee is charged for accepting white $100 banknotes.”

OMT Exchange also stated that it “has not stopped accepting white $100 bills, if they are in good condition, and no additional fee is charged at any of our centers. OMT does not accept any banknotes that are torn, burnt, yellowed, or even partially damaged.”


Egyptian president to discuss regional peace on official visit to Abu Dhabi

Egyptian president to discuss regional peace on official visit to Abu Dhabi
Updated 26 January 2022

Egyptian president to discuss regional peace on official visit to Abu Dhabi

Egyptian president to discuss regional peace on official visit to Abu Dhabi

DUBAI: Egyptian President Abdel Fattah al-Sisi arrived Wednesday on a state visit to Abu Dhabi  where he was welcomed by United Arab Emirates Crown Prince Mohamed bin Zayed.

The Egyptian president later attended a meeting Crown Prince Mohamed bin Zayed, UAE Vice President Sheikh Mohammed bin Rashid and Bahrain King Hamad bin Isa Al Khalifa. 

Upon arrival, the Egyptian presidency said the president’s visit aims to bolster ties between the UAE and Egypt.

It also said the Sisi reiterated Egypt’s condemnation of the Houthis militant attacks against the UAE.

Al-Sisi intended to “[consult] and [coordinate] on the latest regional developments, in light of what the current stage requires of concerted efforts to protect Arab national security and to counter attempts to destabilize the security and stability of Arab countries,” a statement from Egypt’s presidency read.


UAE records marks 2,369 new coronavirus cases over past 24 hours

UAE records marks 2,369 new coronavirus cases over past 24 hours
Updated 26 January 2022

UAE records marks 2,369 new coronavirus cases over past 24 hours

UAE records marks 2,369 new coronavirus cases over past 24 hours

DUBAI: The UAE health ministry announced Wednesday 2,369 new coronavirus cases over the past 24 hours, marking a reduction in daily infection rates. 

The new figures bring the total number of recorded cases in the UAE to 833,201.

The ministry briefing also announced four deaths due to COVID-19 complications, bringing the total number of deaths in the country to 2,228.
An additional 1,201 individuals had fully recovered from COVID-19, bringing the total number of recoveries to 771,624.


UAE drone ban violators face massive fine 

UAE drone ban violators face massive fine 
Updated 26 January 2022

UAE drone ban violators face massive fine 

UAE drone ban violators face massive fine 
  • Violators will also face jail terms of six months to five years in addition to the fine

DUBAI: The UAE will issue fines of no less than $27,225 to those who violate the recently introduced ban on flying drones in the country. 

According to the country’s public prosecution, violators will also face jail terms of six months to five years in addition to the fine. 

The UAE Public Prosecution made the announcement on Twitter. 

The country’s Ministry of Interior (MoI) had previously announced on Saturday through its official Twitter account that it has stopped “all flying operations for owners and enthusiasts of drones.”

The decision, which was made in coordination with the General Civil Aviation Authority (GCAA), aims to ensure the safety of both people and properties from “bad practices.” 

“The decision came after the misuse spotted recently, not limiting the practice of these sports to the areas identified in the user permits and trespassing into areas where these types of activities are prohibited,” wrote the ministry in its announcement. 

The statement added that those requiring the use of drones or other flying objects for work, commercial, filming or advertising purposes must obtain a permit in order to carry out their work.


Kurds advance on jihadists in besieged Syria jail, appeal for help

Kurds advance on jihadists in besieged Syria jail, appeal for help
Updated 26 January 2022

Kurds advance on jihadists in besieged Syria jail, appeal for help

Kurds advance on jihadists in besieged Syria jail, appeal for help
  • A tense stand-off has gripped the prison, with Kurdish forces and their Daesh rivals facing either a bloodbath or talks to end the fighting

HASAKAH, Syria: Kurdish forces advanced Wednesday inside a Syrian prison where Daesh group fighters have been holed up with minors for six days, amid pleas for international assistance to contain a jihadist resurgence.
More than 100 jihadists of the Daesh group last week attacked Ghwayran prison in the northeast Syrian city of Hasakah, held by a semi-autonomous Kurdish administration.
The brazen assault on the Kurdish-run facility involved a double suicide bombing and saw the jihadists free fellow Daesh members, seize weapons and take over a series of jail blocks.
It is considered the most sophisticated attack carried out by the group since it was territorially defeated in Syria nearly three years ago.
On Wednesday, the Kurdish-led Syrian Democratic Forces (SDF) and allied fighters “carried out search operations inside prison blocks” and in areas surrounding the facility, where intermittent clashes had broken out overnight, said the Syrian Observatory for Human Rights.
US-backed Kurdish forces were “advancing slowly” inside the jail where jihadists were still holed up, said the Britain-based monitor.
Fighting in and around the prison since Thursday has killed 181 people, including 124 Daesh jihadists, 50 Kurdish fighters and seven civilians, according to the Observatory.
With operations inside the facility underway, fears were raised over the fate of minors detained at Ghwayran, which held more than 700 boys among 3,500 Daesh suspects prior to the attack.
“They say they fear they’ll be shot down if they try to come out. They are begging for food, water, medicine,” said Human Rights Watch researcher Letta Tayler, adding she had made contact with three inmates including one minor trapped inside the jail.
They are calling for the United Nations “or other international organization to negotiate their safe exit,” Tayler said.
A tense stand-off has gripped the prison, with Kurdish forces and their Daesh rivals facing either a bloodbath or talks to end the fighting.
“The most likely way this ends is with the total defeat of the Daesh fighters at the prison,” said Nicholas Heras, an analyst at the Newlines Institute.
“But the nightmare scenario for the SDF and the US-led coalition is a drawn out standoff that kills hundreds, including many children prisoners.”
Kurdish forces since Monday have freed 32 prison staff, some of whom appeared in video footage that Daesh had shared on social media after launching the attack, the Observatory says.
Around 1,000 men, including rebelling inmates and Daesh jihadists, have so far surrendered to Kurdish forces, the Kurdish-led Syrian Democratic Forces said Wednesday.
Observatory head Rami Abdel Rahman said that a Syrian Daesh jihadist was negotiating with Kurdish forces to end the mutiny and secure medical care for wounded jihadists.
Farhad Shami of the SDF media office said the SDF had made calls for Daesh to surrender, but he refused to refer to them as formal negotiations.
Ghwayran is the prison with the largest number of suspected Daesh members in Syria, the Observatory says.
Kurdish authorities say more than 50 nationalities are represented in a number of Kurdish-run prisons, where over 12,000 Daesh suspects are being held.
The Kurdish administration has long warned it does not have the capacity to hold, let alone put on trial, the thousands of Daesh fighters captured in years of operations.
“This issue is an international problem,” Abdulkarim Omar, the administration’s top foreign policy official, told AFP on Wednesday.
“We cannot face it alone.”
He called on the international community to “support the autonomous administration to improve security and humanitarian conditions for inmates in detention centers and for those in overcrowded camps.”
The proto-state declared by Daesh in 2014 once straddled large parts of Iraq and Syria.
After five years of military operations conducted by local and international forces, its last rump was eventually flushed out on the banks of the Euphrates in eastern Syria in March 2019.


Iran arrests 17 over social media horror pranks

Iran arrests 17 over social media horror pranks
Updated 26 January 2022

Iran arrests 17 over social media horror pranks

Iran arrests 17 over social media horror pranks
  • Gags included mock murders and a suicide as well as throwing cakes in the faces of passengers on the escalators of the Tehran metro

TEHRAN: Iranian police have arrested 17 university graduates on suspicion of filming candid camera horror pranks that boosted their social media followings but “sowed panic” in Tehran streets, reports said Tuesday.
Gags included mock murders and a suicide as well as throwing cakes in the faces of passengers on the escalators of the Tehran metro, Iranian newspapers reported.
“Police have arrested some individuals who amused themselves by playing on people’s nerves and the peace and security of the public by filming candid camera footage of horror gags on the streets of the capital,” Tehran police chief General Hossein Rahimi told the Iran newspaper.
“We arrested 17 people who perpetrated these illegal acts.”
The author of the gag filmed on the Tehran metro was open about his motives.
“I wanted to make people happy and increase the number of followers on my Instagram page,” he told the Shahab newspaper.
But the head of Tehran’s cyber police Col. Davoud Moazzami expressed outrage that educated people would scare the public for personal gain in this way.
“They filmed these candid camera videos to attract followers and advertising on Instagram and Twitter,” Moazzami said. “All 17 of those arrested had received university educations and worked for respected companies.”