#Lebanon’s #Public_Corporation_for_Housing under attack
▻http://english.al-akhbar.com/content/lebanon%E2%80%99s-public-corporation-housing-under-attack
A new high-rise residential building in Beirut’s Sodeco neighborhood. (Photo: Marwan Tahtah) A new high-rise residential building in Beirut’s Sodeco neighborhood. (Photo: Marwan Tahtah)
A number of banks have circulated internal memos asking their housing loans departments to stop accepting applications for loans backed by al-Iskan, the Public Corporation for Housing (PCH). The memos seem to have been the result of a decision adopted by the board of the #Association_of_Banks_in_Lebanon (ABL), after the PCH failed to pay $25 million owed to five Lebanese banks. The majority of banks have since decided to suspend the implementation of the decision, however, following a backlash from their clients, while other banks have (...)