It seems that the message has not reached the rest of the relevant institutions, as they still operate according to their old practices, executing seizures on all assets, including cash and physical properties of companies and individuals, in exchange for a debt that may sometimes not exceed a quarter of the value of the assets subject to the seizure.
In doing so, they cause damage to themselves and to the economic cycle, as the debtor is prevented from disposing of some assets to pay off the debt, nor is he able to move forward with his individual economic activity, or manage the administrative and financial affairs of his company, if it is a company.
The government’s decision was important, not just to alleviate the burden on people, especially those in distress, but it is also a model that all official and civil institutions must follow.
Many civil and official institutions continue to implement seizure decisions on all movable and immovable property, amounting to many times the value of the debt.
These steps do not only hinder the economic cycle for individuals and institutions, but they also make the process of repayment and settlements difficult.
Precautionary seizure is a weapon in the hands of official and civil institutions to pressure debtors to collect funds, especially after the decisions to stop the imprisonment of debtors. This is a right that we do not deny these institutions and individuals in order to collect their dues, but there are gaps that must be addressed for the sake of not disrupting the general economic cycle, and debtors in particular. The negative impact of a precautionary or executive seizure on all movable and immovable assets beyond the value of the debt undoubtedly hinders the collection of funds, especially since it paralyzes the work of companies and individuals and prevents them from disposing of other properties to provide the liquidity necessary to pay off debts.
The government's decision must be generalized if we want to achieve a balance between the creditor's need, the debtor's capacity, the continuation of the economic cycle, and finding a lifeline for those in financial distress.
