3 Billion and 200 Million dollars worth of deposits withdrawn from Lebanese Banks

  • Beirut, Lebanon
  • 20 November 2019
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Deposits withdrawn from Lebanese banks but not out of Lebanon, according to a final review conducted by the Banque du Liban and banks, totaled about $ 3.2 billion.

Lebanese banks resumed their activities after a 10-day closure, and the atmosphere was relatively calm under a security plan that included banking branches in all regions, but it was not without confusion, first due to the high turnout and secondly due to the failure of banks to comply with the unified standards previously announced by the Association of Banks.

While the association has set ceilings for cash withdrawals not exceeding $ 1,000 per week per customer, this standard has not been applied, and each bank has set the ceiling that suits it, and this has led to anger among citizens. The amounts allowed to withdraw from banks in dollars ranged from $ 300 to $ 1000 per week. Some banks have also placed ceilings on withdrawals in Lebanese pounds, limiting the maximum amount withdrawn from ATMs to one million Lebanese pounds per day and one and a half million per week.

Source (Economic Bulletin website, Edited)