Lebanon’s central bank seeks extra powers

Lebanon’s central bank seeks extra powers

Author: Reutersarticle author: ReutersID: 1578824312084215900Sun, 2020-01-12 10:15

BEIRUT: Lebanon's central bank is seeking extra powers to regulate and standardise controls which commercial banks are imposing on depositors, the governor said on Sunday, saying his intention was to ensure "fair relationships“ between banks and customers.

Seeking to prevent capital flight, commercial banks have been tightly controlling access to deposits and blocking most transfers abroad since October, when anti-government protests brought a long-brewing Lebanese economic crisis to a head.Main category: Business & EconomyTags: bankingFinanceeconomyLebanon