Syrian Industrialist Calls For Recovering Funds Frozen in Lebanese Banks

A view of Lebanon’s Central Bank building in Beirut. (Reuters)
A view of Lebanon’s Central Bank building in Beirut. (Reuters)
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Syrian Industrialist Calls For Recovering Funds Frozen in Lebanese Banks

A view of Lebanon’s Central Bank building in Beirut. (Reuters)
A view of Lebanon’s Central Bank building in Beirut. (Reuters)

An established Syrian industrialist called Sunday on the government in Damascus to act for recovering the Syrian funds stuck in Lebanese banks.

Fares Shebahi, the chairman of Syria's Federation of Chambers of Industry and head of Aleppo's Chamber of Industrialists, said that “it is no longer a secret to anyone that the Syrian State needs every lira it can get, today before tomorrow.”

In a post on his Facebook account, Shehabi said he could not understand the lack of official action in this regard.

He estimated the amount of Syrian funds frozen in Lebanon at $20 billion and accused what he said were “Lebanese banks thieves ” of looting the money.

Shehabi then stated that a Jordanian businessman was capable of seizing the properties of some Lebanese banks abroad to collect his own deposits at Lebanese banks estimated at $40 million.

He called on the government to move through the intermediaries of international legal companies to collect what it can from the Syrian funds.

Economic sources in Damascus told Asharq Al-Awsat that Syrian traders, industrialists, and businessmen had previously proposed, during their meetings with government officials, to act in order to recover the frozen Syrian funds.

Their request came after Syrian President Bashar al-Assad said in a speech after being sworn in as president for a fourth term, that estimates suggest that the frozen funds are worth between $40 billion and $60 billion.

In a previous comment, Syrian industrialist Atef Tayfour had suggested that Syrian banks buy shares in Lebanese banks in exchange for their clients’ deposits abroad, and transfer them to a cash balance in Syrian pounds at home.

Lebanese banks have locked depositors out of their accounts and blocked transfers abroad since the start of the country's crisis in late 2019.

Many Syrian front companies had long circumvented Western sanctions by using Lebanon's banking system to pay for goods which were then imported into Syria by land.

But since the financial crisis in Beirut, Syrian businessmen could no longer use Lebanese banks, which led to the deterioration of the value of the Syrian pound to record levels.

Lebanese media outlets have questioned the Syrian figures circulating about the volume of Syrian deposits in Lebanese banks, especially since Lebanese banks have avoided receiving Syrian deposits since the outbreak of tension in Syria in 2011 for fear of international sanctions.

They said most of the Syrian deposits date back to before 2011, and a large part of them were withdrawn during the war in Syria.

In the absence of official figures due to Lebanon’s Banking Secrecy Law that prevents Lebanese banks from disclosing the size of their deposits, observers estimate that the volume of frozen Syrian funds in Lebanon ranges from $8 to $20 billion.



Cairo May Request Extradition of Qaradawi’s Son from Abu Dhabi

Umayyad Square in Damascus (Reuters)
Umayyad Square in Damascus (Reuters)
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Cairo May Request Extradition of Qaradawi’s Son from Abu Dhabi

Umayyad Square in Damascus (Reuters)
Umayyad Square in Damascus (Reuters)

As Lebanese authorities proceed with the deportation of Egyptian activist Abdel Rahman al-Qaradawi, the son of the late cleric Yusuf al-Qaradawi, to the United Arab Emirates, an Egyptian source involved in the case told Asharq Al-Awsat that Cairo plans to formally request his extradition from Abu Dhabi once he arrives there.

Controversy has surrounded the case since Lebanon announced that the government had approved the deportation of Qaradawi to the UAE instead of Egypt, where he holds citizenship.

Former Lebanese Foreign Minister Adnan Mansour explained to Asharq Al-Awsat that citizenship is not an obstacle in extradition cases between countries, saying that a state may decide to extradite a person to another country even if they hold the nationality of a third state, as in the case of Qaradawi’s son.

According to Lebanese sources, the decision to extradite Qaradawi to the UAE is based on a warrant issued by the Council of Arab Interior Ministers. As a member of the council, Lebanon is obligated to comply with the UAE’s request, despite the absence of a direct bilateral extradition agreement between the two countries.

Additionally, the extradition decision was influenced by the fact that the charges against Qaradawi are criminal, not political, as political charges would prevent extradition and instead warrant protection under international conventions.

An Egyptian judicial source told Asharq Al-Awsat that the International Cooperation Office of Egypt’s Public Prosecutor had prepared a comprehensive file containing all rulings issued against Qaradawi to ensure that the extradition request met all legal requirements. This file was sent to Lebanese judicial authorities through official channels. However, Egypt has yet to receive a response from Lebanon, though one is expected in the coming days.

Dr. Mohammed Mahmoud Mehran, a member of the American and European societies for international law, told Asharq Al-Awsat that international law generally allows extradition when the individual is either a citizen of the requesting state, has committed a crime on its territory, or when the requesting state has a direct legal interest in the case.

As Qaradawi is an Egyptian citizen, Egypt “has the legal right to request his extradition under international law and bilateral agreements, provided all legal conditions are met,” Mehran said.

Meanwhile, Qaradawi’s lawyer, Mohammed Sablouh, confirmed plans to file an urgent appeal in Lebanese courts to prevent his client’s extradition, according to Reuters. Mehran explained that extradition laws grant the individual the right to appeal in court, while the requesting states also have the right to challenge decisions.

Mehran suggested that if Qaradawi is ultimately handed over to the UAE, it is highly likely he will later be extradited to Egypt after procedural requirements in the Emirates are fulfilled. This is due to the strong bilateral relations and close security coordination between Egypt and the UAE.

Abdel Rahman al-Qaradawi, who holds dual Egyptian and Turkish citizenship, was arrested in Lebanon on December 28 after returning from Syria. His arrest followed an Interpol red notice issued based on an in absentia ruling by an Egyptian court sentencing him to five years in prison for spreading false news, inciting violence, and terrorism. Before his arrest, Qaradawi appeared in a video filmed at the Umayyad Mosque in Damascus, where he made remarks considered offensive to both Egypt and the UAE.