Close Menu
    Facebook X (Twitter) Instagram
    Wednesday, July 16, 2025
    961
    Instagram Facebook LinkedIn TikTok
    • Breaking News
    • Guides
    • Food & Drink
    • Listicles
    • Join the Team
    • Whatsapp
      • 961
      • 961 News
    Advertise with Us Get the App
    961
    Home»News»Lebanon News
    2 Mins Read

    Lebanon’s Central Bank Just Cut Interest On Deposits To Ease Crisis

    By Omar JamalFebruary 13, 2020Updated:June 4, 2020
    Facebook WhatsApp Copy Link

    In a series of capital control measures put in place to try to ease the effects of the financial crisis that has gripped Lebanon since October 2019, the Central Bank (BDL) instructed the banks on February 13th to lower the interest rates for customer’s deposits for both dollars and Lebanese pounds.

    The interest rate was capped at 4 percent for dollar deposits and 7.5 percent for Lebanese pound deposits, according to a circular seen by AFP. This is the second time in two months that the BDL has taken such measures.

    In December 2019, they had capped the interest at 5 percent for dollar deposits and 8.5 percent for Lebanese pound deposits.

    View this post on Instagram

    A post shared by Fouad A.Salha (@fouada.salha)

    As the currency keeps losing value and the crisis keeps getting worse, the Central Bank has resorted to desperate measures to limit the effects of the dollar shortage.

    A week ago, the Central Bank limited the monthly withdrawal rate at $600 per month and $300 every 15 days, although it is significantly higher with people who have over $100,000 in their accounts.

    The latest reduction came weeks after a statement by Finance Minister Ghazi Wazni to slash interest rates to  “spur economic activity and to ease pressure on public finances.”

    View this post on Instagram

    A post shared by Rafif Souny رفيف سوني (@rafif_souny)

    This reduction is, according to a source that spoke to Naharnet, part of a “more comprehensive economic rescue plan” by the Central Bank.

    Prime Minister Hassan Diab promised that, by the end of the month, the government will have a comprehensive rescue plan.

    View this post on Instagram

    A post shared by Tawasal.com (@tawasal_com)

    Since the government has now secured the confidence vote by the parliament, they should theoretically be able to start implementing comprehensive solutions to the worsening economic crisis.

    Some foreign governments, such as Switzerland, have offered to support the Lebanese regime. However, as the World Bank had previously stated, that aid will depend on the reform program that the new government will set in place.

    Lebanese Revolution (Thawra)
    Share. Facebook Twitter LinkedIn WhatsApp Reddit Email

    For You

    uae travel ban lebanon 961

    UAE Is Officially Removing The Travel Ban On Lebanon

    Joe Issa El-Khoury 961

    Who is Joe Issa El-Khoury, Lebanon’s New Minister of Industry

    Adel Nassar 961

    Who is Adel Nassar, Lebanon’s New Minister of Justice

    Nizar Hani 961

    Who is Nizar Hani, Lebanon’s New Minister of Agriculture

    Charles Hajj 961

    Who Is Charles Hajj, Lebanon’s New Minister of Telecommunications

    Nora Bayrakdarian 961

    Who is Nora Bayrakdarian, Lebanon’s New Minister of Youth and Sports

    shark tank Lebanon

    Shark Tank Is Officially Coming To Lebanon – Here’s How You Can Get A Chance To Pitch Your Idea

    lebanon jounieh cyprus by ferry 961

    You’ll Soon Be Able To Travel Between Lebanon & Cyprus By Ferry

    June 8, 2025

    20 Celebrities You Probably Didn’t Know Had Lebanese Roots

    April 22, 2019
    whish pay lebanon 961

    You Can Now Use Whish Pay At Shopify Stores

    June 13, 2025

    Lebanon’s Shawarma Is Going Viral in The Philippines

    April 21, 2019

    How Mia Khalifa Became One Of The Most Outspoken Advocates For Lebanon

    August 13, 2020
    Lebanese boutiques

    25 Boutiques In Lebanon To Find Your Dream Evening Dress This Wedding Season

    June 9, 2024

    20 Typical Lebanese Slang Expressions

    April 21, 2020
    caracalla one thousand and one nights

    Caracalla Just Added More Dates For “One Thousand and One Nights” & You Def Don’t Want To Miss It!

    July 5, 2025
    Low-Cost Lebanese Airline 961

    We Might Finally Be Getting A Low-Cost Lebanese Airline – Here’s What We Know

    June 18, 2025
    961 Logo
    Facebook WhatsApp TikTok Instagram

    Popular Topics

    • Guides
    • Eat & Drink
    • Listicles
    • Lebanon News
    • Diaspora
    • Explained

    961

    • About
    • WhatsApp Channel
    • News WhatsApp Channel
    • Corrections Policy
    • Ownership & Funding

    Services

    • Advertise
    • Careers
    • App Waitlist
    • Contact Us
    • Newsletter
    961™ | All Rights Reserved ©2025
    • Privacy Policy
    • Terms

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.