On Wednesday, the Central Bank made a decision to stop operating according to Circular 151, which allowed depositors to withdraw their ‘lollars’ (dollars stuck in Lebanese banks) at the semi-official exchange rate of 3,900 LBP.
Instead, people are now only allowed to withdraw their local dollars at the official rate of 1,500 LBP.
This comes based on the verdict of the state’s Shura Council that ruled in favor of three lawyers – Pascal Daher, Charbel Chbeir, and Jessica Kousaifi – who filed an appeal three months ago against the Central Bank‘s Circular 151.
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