A prominent official source pointed out that the Central Council of the Banque du Liban, in its meeting yesterday evening, Wednesday, concluded several decisions related to working at the price of 15,000 pounds against the dollar, starting from the first of February 2023, including what is related to the “Central”’s dealings with banks in addition to bank loans..
The source revealed the most prominent decisions taken by the Central Council, which are expected to be issued successively within a week, most notably:
– Approval of the amendment to Circular 151, related to cash withdrawals from accounts in foreign currencies, which will allow the depositor to withdraw part of his deposit in US dollars at a price of 15,000 Lebanese pounds per dollar, starting from the first of February, instead of 8,000 pounds currently. For example, if a depositor wanted to withdraw the maximum allowable monthly ceiling, i.e. 24 million pounds, 1600 dollars will be deducted from the depositor’s account and not 3000 dollars as is the case today, and thus depositors will benefit and their losses will decrease significantly..
– Amending Circular 158 so that the depositor benefits from 400 dollars in cash and 400 dollars at the price of 15,000 pounds instead of 12,000 pounds now .
– Amending the calculation of all bank entitlements and obligations at the price of 15 thousand pounds instead of 1500 pounds.
– Adopting the price of 15,000 pounds for banking transactions between the Banque du Liban and banks instead of 1,500 pounds per dollar..
– Adopting the price of 15,000 for all loan payments in US dollars due starting from the beginning of February, without exception, and by the end of this month, the payment will stop at 1,500, and starting from February, the repayment of loans previously taken in dollars will begin at the price of 15,000 pounds. Note that borrowers can pay off their loans before this date by check in dollars or Lebanese currency.
– A suggestion that personal and housing loans taken in dollars be repaid in fresh dollars if the loan holder works abroad, but whoever is inside should pay in dollars or in Lebanese pounds at the price of 15 thousand .
Housing loans in Lebanese pounds are repaid in Lebanese pounds, regardless of their value .
As for the exchange platform, there are new controls, including :
First: No corporate banking operations .
Second: Maintaining banking operations for individuals, with specific ceilings, and in one account for each individual, that is, in one bank, no matter how many accounts there are, and one transaction every thirty days.
