Lollar

A Lollar is a US dollar that is stuck in the Lebanese banking system, really just a computer entry with no corresponding currency. The term was coined by former Harvard Advanced Leadership Fellow Dan Azzi after a severe economic crisis in Lebanon.[1] The dollar deposits were mostly consumed in backing the Lebanese Lira peg and financing the balance of payments deficit.[2]

The Lebanese Dollar or “Lollar” which can only be utilized within Lebanon. So you can sell something in Lebanon for a banker’s check from another bank, which gets deposited in your bank, but you can’t take it out of the bank in cash or transfer out of the country. You can only admire it on your bank statement until you find someone else to sell you something so he deposits it in his account. Basically moving around from account to account, like Monopoly money on a Monopoly board game.[3]

Dollar accounts have been frozen, and those trapped dollars have become “Monopoly money” with no value outside Lebanon, said Dan Azzi, a former banker and analyst. He coined a name for that currency, the “Lollar” or Lebanese dollar.[4]

People can withdraw their dollar savings only in local currency (Dan Azzi, a former executive at Standard Chartered, a bank, dubbed these “lollars”).[5]

For people with the surname, see Lollar (surname).

Lollar
Coat of arms
Location of Lollar within Gießen district
Lollar Show map of Germany Lollar Show map of Hesse
Coordinates: 50°38′59″N 08°42′16″E
Country	Germany
State	Hesse
Admin. region	Gießen
District	Gießen
Government
• Mayor	Dr. Bernd Wieczorek (Ind.)
Area
• Total	21.90 km2 (8.46 sq mi)
Elevation	173 m (568 ft)
Population  (2019-12-31)[6]
• Total	10,309
• Density	470/km2 (1,200/sq mi)
Time zone	UTC+01:00 (CET)
• Summer (DST)	UTC+02:00 (CEST)
Postal codes	35457
Dialling codes	06406
Vehicle registration	GI
Website	www.lollar.de

Lollar is a town in the district of Gießen, in Hesse, Germany. It is situated on the river Lahn, 7 km north of Gießen. The biggest production site of Bosch Thermotechnology is located in Lollar.