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But the American university has recently been the subject of scrutiny and has been criticized for biased biases and bias, contrary to its well-known image for decades. The decisions remained somewhat "acceptable" or subject to debate, unlike the decision that turned the university into a "cashier" enjoying monetary differentials for profit.
Conflicts of information
The "secular club" of the American university raised the question of the decision of the university to "stop processing the Lebanese pounds and limit all financial transactions in US dollars by transferring all amounts of down payments , student housing and other expenses from the Lebanese pound to the US dollar ".
The decision said the move "aims at significant financial risks on the shoulders of university students, especially in light of the country's sensitive financial conditions". The club noted that all costs paid by the university, including most of the salaries, are in Lebanese pounds, in addition to the income of the parents of students, which makes students a potential victim of any development in the current financial crisis. Calmly with the student body ".
The questions left by highlighting the problem did not prompt the university to reconsider its decision. What is strange is the contradictory information about the decision taken between two administrative poles of the university. Ibrahim Khoury, advisor to the president of the university, Fadhlou Khoury, denied this decision, in connection with the "cities". He confirmed to the head of the media of the university, Simon Kachar, that "this decision dates from last June". He pointed out in an interview with the "cities" that "the decision does not mean not to accept the payment of Lebanese pounds, but the university announced that the price would be in dollars, because it would join a joint application of 39, US and international institutions, but students can pay books, "explaining that the announcement on the university's official page.
Returning to the text of the resolution, nothing indicates that the university will not accept the Lebanese pound, but provides for the possibility of payment in any currency. The rationale for the decision, based on belonging to the common application, is clear.
Profit from the game at the exchange rate
What attracts attention in the text explaining why the dollar is used is a small sentence that reflects many meanings. The sentence says that the payment is acceptable in any currency "exchange rate on the market". There is no doubt that the exchange rate on the market is a stock exchange and land, and accumulates through profits in the hands of those who specialize in exchange and take advantage of the price difference between currencies.
Take advantage of the currency concept in the cashier system, but it is incomprehensible in the first-year American University, world-clbad. In addition to the moral or ideal aspect of the subject, there is an economic aspect that is reflected both in the university and in the Lebanese street. That is the essence of the problem.
At the university level, sources ranging from university professors to cities reveal that the decision is aimed at "increasing the financial profits of the university and protecting its finances in the event of a financial crisis in the country. safer for the university … all this to attract the board of directors ". The sources explain that paying students in Lebanese pounds (and doing so at the market exchange rate) would mean paying the students for the price difference between the pound and the dollar, which is about 10 pounds per dollar, or approximately £ 250,000 per student. The university about a billion and a half pounds, the equivalent of a million dollars.
The sources added that the process involved a number of additional measures, including the removal of overtime for younger employees, as university guards, and that the administration was closing some doors to save money, what was reflected in students, teachers and staff.
If one wants to rule out the idea of profits, the use by the university of teachers' salaries and staff to read amounts to rethinking the structure of profit accumulation. If joining the "joint application" requires that the university uses the dollar, it should use it to pay, not just to stop.
Negative reflection
The economic situation in Lebanon is not at its best. Countries and international financial institutions examine all the economic and financial details in order to badess their views on Lebanon, which calls for the absence of discussion or action suggesting a lack of confidence in the economy or state finances, which is contrary to the decision of the American University because the dollar or its equivalent in price This means that the American and international university recital does not trust the local currency, which is a negative indicator.
Economist Ghazi Wazni presented the negative indicator as "the internal procedure of the university, but it is not healthy because rumors surround the economy since the beginning of this year". "The Lebanese currency is stable and the Lebanese reserves in foreign currencies exceed a billion and a half dollars, and Fitch badesses the stability of the financial and monetary situation," he said in an interview with Al-Madin.
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