Lebanon has no plans to impose capital controls or haircut on deposits – The National

Lebanon has no plans to impose capital controls or haircut on deposits – The National

Central Bank of Lebanon responds to a query by a Dubai-based businessman on whether there is a risk to dollar deposits of foreign investors in Lebanon. Dollar deposits of foreign investors in Lebanon are safe and there are no plans to impose capital controls or a haircut in the wake of the ongoing political unrest and deepening financial crisis in the country. Lebanon's central bank, also known as Banque Du Liban (BDL), said the law in the country does not allow a haircut on deposits.. The central bank's clarification follows a query by Dubai-based businessman and founding chairman of Al Habtoor Group, Khalaf Ahmad Al Habtoor, who asked via his official Twitter account if there was any risk to dollar deposits of foreign investors and whether there could be a haircut.. "The declared policy of the Central Bank of Lebanon is not to bankrupt any bank preserving the depositors.. Also the law in Lebanon doesn't allow haircut," the central bank said in a Twitter post on Saturday.. "BDL is providing the liquidity needed by banks in both Lebanese pound and dollars, but under one condition that the dollars lent by BDL won't be transferred abroad.". "Funds received by Lebanese banks