News

ARE YOU WORRIED WHERE TO DEPOSIT YOUR MONEY?

I&C Bank got you covered!

We started the year 2023 by launching our unique, risk-free, “I&C Foreign Deposit” which is unmatched in the Lebanese market.

WHY IS IT UNIQUE?

“I&C Foreign Deposit” is one of a kind in Lebanon as it’s a deposit that earns a 3% interest per annum without bearing any of the following risks:

• No Currency Risk
• No Credit Risk
• No Lebanon Risk
• No Bank Risk
• No Regulation Risk
• No Liquidity Risk

HOW EXACTLY IS THIS DEPOSIT “RISK FREE”?

The Deposit is in USD and backed by US Treasury Bills that are US denominated AAA rated assets, so it neither bears Currency risk nor Credit risk.

Being done on fiduciary basis means it is an “ off-balance sheet” fiduciary deposit that falls under the Fiduciary law 520/1996. The depositor therefore bears no bank, country or regulatory risk.

Moreover, being an “at-sight deposit”, it can be withdrawn after a very short notice period and can be used as a means of payment. This is a crucial point for both individuals and companies/institutions that need continuous access to their funds for commercial or personal transactions.

In addition to the risk-free aspect, “I&C Foreign Deposit” earns a 3% interest per annum and can be linked to a credit card that the depositor can use locally or for international purchases.

I&C Bank aims to bring some relief to depositors who have been struggling to find risk free financial services to serve them, ever since the financial crisis hit the country. The launch of this deposit comes in line with the vision and mission of I&C Bank to be a corner stone in the relaunch of Lebanon’s economy which inevitably requires a healthy banking system offering banking services to the Lebanese.

Are you still worried where to deposit your money? What are you waiting for?

Contact us on 01/985195 to open an account
Or by email banking@iandcbank.com