Saradar Bank is preparing to appeal a court ruling issued against it in France, requiring it to pay €2.5 million to a Syrian citizen residing in France.

The bank’s appeal argues that the French courts do not have jurisdiction over accounts of depositors in Lebanese banks, although the contracts for opening the account in question were signed on French soil with a client residing in France. The bank’s employees have been visiting French territory periodically to carry out routine transactions.

This lawsuit is a cause for concern for Lebanese banks, because it could set a judicial precedent that may be the base for similar rulings, which is why Lebanese banks are exerting pressure to pass the Capital Control Law in Parliament.

Source: megaphone

By sarah

Sarah Othman, biochemistry student, holds a master's degree 1 from the Lebanese University. Seeking to obtain a second degree in the field of informatics. She works in the media field at Rahal Global News. Interested in cultural, artistic and news matters. A teacher in a school, and a private teacher . Holding laboratory experience in a government hospital and in private laboratories.