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Government's banking decisions: Salary increase, withdrawal caps, and equality for depositors

Lebanon Economy

2023-04-19 | 10:56

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Government's banking decisions: Salary increase, withdrawal caps, and equality for depositors

Decisions gradually emerged from the government session that approved the salary increase.

The government issued a decision requesting the Banque Du Liban to impose a cap on withdrawals available to depositors according to the circulars issued by BDL or to treat them equally among each other.

Banking sources consider this step to help regulate operations in the banking sector and treat all depositors equally. Still, it is insufficient and does not protect banks from legal claims, as the circular does not replace the Capital Control Law, whose endorsement is still urgent.

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