Circular 166, which allows certain depositors to withdraw $150 a month from their accounts, came into force on Thursday. Those concerned can now submit their applications to the banks.
Lebanon's Central Bank (BDL) has informed banks of the application mechanism and sent them the form to be used in order to lift the banking secrecy of the accounts in question linked to this circular.
Sources at the BDL have indicated that "depositors who apply for this circular and obtain approval will begin to benefit from its effects on the date of application and not on the date of approval."
Lebanon's Central Bank (BDL) has informed banks of the application mechanism and sent them the form to be used in order to lift the banking secrecy of the accounts in question linked to this circular.
Sources at the BDL have indicated that "depositors who apply for this circular and obtain approval will begin to benefit from its effects on the date of application and not on the date of approval."
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