The Governor of the Central Bank of Lebanon, Riad Salameh, revealed the launch of an initiative aimed at comforting the Lebanese, within the laws and principles that govern the work of the "Banque du Liban", this is despite the suffocating crisis deepened by the absence of an effective government that carries out the required reforms and restores Lebanon's Arab and International relations and internal and external confidence.
Salameh pointed out that "the Banque du Liban is currently negotiating with Lebanese banks, with the aim of adopting a mechanism whereby banks begin to gradually pay off deposits that were in place before October 17, 2019, and as it became on March 31, 2021, in all currencies, and for this purpose, the "Banque du Liban" asked the banks to provide it with data in order to build a plan on it, under it, sums of up to $ 25,000 are paid, in US dollars or any foreign currency, in addition to the equivalent in Lebanese pounds. These sums will be paid in installments over a period to be determined by the Central Bank of Lebanon soon. It is expected that the payment will start from June 30, 2021, subject to obtaining the legal coverage."
He pointed out that "the Central Bank of Lebanon adopted, long ago, proactive and anticipatory policies, in order to secure the continuation of financing for the basic needs of Lebanon and the Lebanese. Were it not for the central bank to anticipate the future and collect its reserves in foreign currencies, through financial engineering and operations that showed their benefits in these difficult days, Lebanon would not have been able to finance its needs, especially for the neediest segments of society, and would not have been able to withstand for many months despite the large government vacancy.”
Source (Al-Sharq Al-Awsat Newspaper, Edited)
