Banks reject BDL ‘s decision to allow depositors win Dollars
- Date: 05-Jun-2021
- Source: Ya Libnan
- Sector:Financial Markets
- Country:Lebanon
Banks reject BDL ‘s decision to allow depositors win Dollars
The Association of Banks responded to Banque du Liban's decision to pay $400 to depositors, and stressed that any “cash withdrawals can only be provided by reducing the mandatory reserve rate required on bank deposits with the Central Bank.”
the chairman of the association Salim Sfeir pointed out that the , “Banks are unable to provide any cash in foreign currency, no matter how low its value.”
This development comes after Lebanon's central bank on Friday said that depositors holding accounts active as of October 2019 would have access restored to $400 a month and its equivalent in Lebanese pounds.
Select Sector 
Select Country 
