BO2, the new digtal bank... by Byblos?

Well, banks are not exactly liked or wanted these days in Lebanon. So instead of advertising directly, they are resorting to well... backdoor advertising. Take BO2 the new digital bank... by none other than... Byblos Bank! Now I am not a techie expert but this seems like a digital wallet somehow. Still, interestingly, "by Byblos Bank" is so small on the ad as it is was an afterthought. Because, again, people are still reeling from rage at how banks tricked people and subscribed them into this immense Ponzi scheme. And people wonder why Lebanon is now this giant cash economy!

Audi Bank - tiptoeing around communication

Banks. Remember those? Well, in my case I have zero faith in them at this point. Considering that like many people I lost a fortune in them. So it was - with much surprise - that I saw a new ad for Audi Bank. Actually I saw it as a scroller on a site which pushed me to see if there was a longer version somewhere else. The longer version turned out to be 10 seconds which is telling I suppose. The ad is about cards and students studying abroad and how parents can send them money remotely, and monitor their spending. However, like anyone with a brain, I am leaning on cash since the crisis broke in 2019. All my clients pay me in cash or via a Western Union transfer. Because at this point, banks are a distant memory.

Sakr Real Estate plays a tune people want to hear.

"Instead of freezing them at the bank, release them in a real estate".

Sakr Real Estate is selling what everyone is buying. Namely investing in real estate as a way to smuggle one's Lollars out of the bank. The problem? Ask any analyst worth his salt and he'd tell you this is not the way to go - prices are in freefall (the cash price of the penthouse in a luxury building in Beirut was offered at 85% less than its original asking as long as it is paid in cash Dollars), actually Jihad El Hokayem has long advised that prices will go further and further at a point when one can snatch three properties for what was being paid for one (actually he predicted accurately the bust of 2019 when it comes to banks).

Still, Lebanese do think it is a good investment - and Sakr is riffing on that tune and people are finding it music to their ears. 

Toyota Wigo - Banker's Check accepted

Right on the heels of Suzuki, it seems Toyota will accept banker's check for their Toyota Wigo. Interestingly, there is an for its Hilux model right at the same time which does not mention such check, so perhaps Toyota is trying to target a specific clientele with the Wigo. Interestingly usually banker's check is accepted for real estate, or buying plots of lands, as way for people to smuggle their "Lollar" outside the banks. But between Suzuki and Toyota (for their entry-level Wigo) it seems this applies too as a way for such companies to handle their loans to banks (an easy way to pay the companies' dues) and for people to release their long-stuck Lollars in the Lebanese banking system. 

Lebanese Banks are shamelessly advertising again

Lebanese banks, currently some of the most hated institutions in a land where many others are vying for the title, are actually advertising again. Want some of the usual CSR? Fancy some promises about new/fresh money tucked in the bank you can spend freely? Miss some of that pseudo-periodic thingy dipped in a flag? And - with most if not all - banks bring in bed with the political class, some are actually talking about rebuilding Beirut. Considering the patron figures these banks protected, and facilitated their money movements, honestly the word "shameless" comes to mind. 

To say that the Lebanese are now in a cash economy is not an understatement, anyone with no bank accounts is considered lucky. I already spoke about Lebanon's economy being cadh-centered, and financial institutions have a very long way to go before reclaiming any sort of trust from the public they willingly and consciously deceived.

My advice for the banks: Shut up.