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Syrians had deposits at Lebanese banks for decades, due to the nationalization policies that existed in Syria since the 1950s.
Syrians transfered only a small part of their deposits to new private banks in Syria, after the reforms in the mid 2000s that opened the sector to private banks, because they still remember the nationalization and feared similar decisions in the future
So, contrary to what has been said, Syrians did not transfer large amounts to Lebanese banks when the crisis in Syria started in 2011
It is not possible to determine the amount of Syrian deposits at Lebanese banks for several reasons:
1- deposits are not seggregated by country of origin in official figures.
2- They are divided between resident and non-resident deposits.
1- deposits are not seggregated by country of origin in official figures.
2- They are divided between resident and non-resident deposits.
The latter include mostly deposits of expatriates as well as of residents of other countries.
3- non-resident deposits totaled $27.4 billion at the end of September 2020 and account for 19% of total deposits.
3- non-resident deposits totaled $27.4 billion at the end of September 2020 and account for 19% of total deposits.
Many Syrians have the Lebanese nationality and others live in Lebanon, so it is not possible to say their deposits are classified as non-residents only.
Therefore, it is not possible to have the exact amount of the deposits of Syrians at Lebanese banks. Syrian depositors face the same restrictions and measures during this crisis as any other depositors surely
Banks restricted the opening of new accounts for Syrians since 2012 due to international sanctions presumably. Syrian businessmen used Lebanese banks for decades, not just recently
The liquidity and currency crisis in Lebanon actually was caused in part by the withdrawal of Syrian deposits in US dollars in 2018 or 2019, and took them to Syria (or transferred them to banks in Syria) when the regime asked Syrian businessmen to pay settelments to the Govt.
