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In an unprecedented initiative, FRANSABANK was the first and only bank in Lebanon in introducing automation to the process of settling the financial stamp fee, in cash, on its banking documents, and in line with the acknowledged legal rules. FRANSABANK has received the approval of the Indirect-Tax Department at the Directorate of Taxation in the Ministry of Finance for settling in cash the financial stamp fee. According to this official approval, FRANSABANK can now keep a special register (whether in hard copy or soft copy) carrying serial numbers which clarify the types of documents, their numbers, date, settled fee, and necessary information for checking the validity and values of the settled amounts. With this process, FRANSABANK will be able now to enhance its internal system for the settlement procedures, of financial stamp fees due on all banking transactions.
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