BDL issued Circular No. 169 on Tuesday, restricting foreign transfers to ensure equal treatment of depositors during the financial crisis. ©This is Beirut
Banque du Liban (BDL) issued Circular No. 169 on Tuesday, introducing new restrictions on the transfer of deposits abroad in a bid to promote fairness among depositors amid Lebanon’s ongoing financial crisis.
Under the new directive, banks are prohibited from transferring deposits outside Lebanon without prior approval from BDL. The measure is intended to curb selective transfers and address concerns about unequal treatment of depositors, particularly given longstanding complaints about preferential access to funds.
BDL said the circular aims to regulate capital movement and ensure consistency and transparency in banking practices, as part of broader efforts to stabilize the financial system.
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