Lebanon Businessnews News

A step towards equality
Women are now allowed to open bank accounts for minors
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The decision was endorsed by the Association of Banks. Previously only men were allowed to open accounts for minors.

Wafa Abed, president of IPWU, said in an interview “that the idea started after the organization received lots of complaints and objections from mothers and foreign mothers who work in international organizations based in Lebanon to the issue.”

Starting from here, Abed decided to exert all possible efforts to make a change.

While researching, Abed found out that all women, not only in the West, but also in neighboring Gulf and Arab States including Egypt, and Kuwait are offered this right. Abed was also ascertained that there are no legal or religious restrcitions that could stand in the way of bringing this right into fruition.

With the help of financial specialist Paul Morkos and law expert Khatoun Haidar, Abed completed detailed financial and law studies. “The studies were presented to the Association of Banks (ABL) and to commercial banks at the beginning of 2009,” she said. Also,” a number of 4,000 letters that were collected from mothers from all over the country, asking for this right, were presented to ABL,” she added.

“The America-Mideast Educational and Training Services Incorporation (Amideast) agreed to support the project,” Abed said. Amideast offered $49,000 in financing for the union’s “spread awareness campaign” which visited different regions.”

It included round table discussions with mothers from all over the country including the Bekaa region, Chouf, Baakleen, Maten, South (Tyr), and the North.

 Last month, the first bank account for a mother in the name of her minor children was opened at Bank of Beirut and the Arab Countries (BBAC) branch in Hamra.Abed unveiled that the mother is Barbara Batlouni, Amideast-Lebanon country director. 

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Date Posted: Dec 16, 2009