On Wednesday, Banque du Liban (BDL) formalized the decisions endorsed by its Central Council at a meeting held on June 27 under the chairmanship of its Governor Riad Salameh.
The decisions consist of an extension of the effects of Circular 151 and an amendment to Circular 158. The two circulars in question concern exceptional cash withdrawals from bank accounts.
Circular 158, which authorized beneficiaries to withdraw USD 400 in cash and the equivalent value of USD 400 in Lebanese pounds at the rate of LBP 15,000 to one “Lollar” or bank’s dollar, has been amended to limit withdrawals to USD 400 in cash only. This circular, dated June 8, 2021, applies to dollar bank accounts closed on October 19, 2019.
New subscribers eligible for Circular 158 will benefit from a monthly cash withdrawal of USD 300.
Circular 151 authorizes “Lollar” withdrawals from bank accounts opened in foreign currencies after October 19, 2019, at an exchange rate of LBP 15,000 to the “Lollar.”
