Lebanon: Banks Retract Full Closure Decision, Reopen Few Branches

Lebanon: Banks Retract Full Closure Decision, Reopen Few Branches

Each bank will announce the list of branches that will be operating during the general mobilization period, which was adopted by the government to curb the spread of the novel coronavirus.. The Association of Lebanese Banks retracted its decision to close all bank branches until March 29, which was taken as part of the health emergency plan announced by the government amid the coronavirus outbreak.. The sources noted that this procedure, which was previously proposed by Central Bank Governor Riad Salameh would help control currency exchange operations in the parallel market and meet the needs of depositors for cash liquidity in light of the severe limits imposed on USD cash withdrawals..