Close Menu
    Facebook X (Twitter) Instagram
    Thursday, May 22, 2025
    961
    Instagram Facebook LinkedIn TikTok
    • Breaking News
    • Guides
    • Food & Drink
    • Listicles
    • Join the Team
    • Whatsapp
      • 961
      • 961 News
    • AUB Outdoors ☀️
    Advertise with Us Get the App
    961
    Home»News»Lebanon News
    Lebanese Central Bank Governor Riad Salameh has agreed to raise the value of U.S. dollar deposits in Lebanon, Al-Akhbar reported on Thursday.
    Bloomberg
    2 Mins Read

    Lebanese Banks Say They Can’t Secure Any Fresh USD Regardless Of Rate

    By Hussein YassineJune 4, 2021Updated:June 4, 2021
    Facebook WhatsApp Copy Link

    Lebanese banks have announced that they cannot abide by the latest decision of the Central Bank of Lebanon regarding paying depositors fresh U.S. dollars on a monthly basis.

    In a statement that followed the Banque du Liban’s (BDL) announcement of the said decision, the Association of Banks in Lebanon (ABL) stressed that banks are “unable to provide any cash in foreign currency, no matter how low its value.”

    This is because Lebanese banks’ foreign currency liquidity with correspondent banks “is still negative by more than a billion dollars,” the ABL explained, citing central bank statistics.

    The above was clear in the World Bank’s latest report on Lebanon, as well as in the data provided by global financial institutions and international rating agencies, the statement added.

    According to the ABL, cash withdrawals can only be provided by reducing the mandatory reserve rate required on bank deposits with the Central Bank.

    The statement noted that the obligatory reserve basically constitutes a guarantee for depositors and is resorted to in crises and emergency situations, “such as the ones that exist in Lebanon today.”

    Finally, the ABL asked Central Bank Governor Riad Salameh to wait before issuing any circular that forces banks to commit to cash withdrawals in foreign currency, “hoping that it would be part of the Capital Control law proposal being circulated in Parliament.”

    The BDL had announced earlier on Friday a decision whereby banks would begin to pay $400 in fresh dollars and their equivalent in Lebanese pounds, on a monthly basis, to holders of bank accounts dating before October 2019.

    Central Bank of Lebanon Lebanese Lira Lebanon Riad Salameh
    Share. Facebook Twitter LinkedIn WhatsApp Reddit Email

    For You

    visa whish money partnership

    Visa and Whish Money Just Partnered To Push Digital Payments in Lebanon and Abroad

    uae travel ban lebanon 961

    UAE Is Officially Removing The Travel Ban On Lebanon

    Lebanese talking-stage

    15 Things Your Lebanese Talking-Stage Will Tell You, And What It Actually Means

    Joe Issa El-Khoury 961

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

    Tamara El-Zein 961

    Who is Tamara El-Zein, Lebanon’s New Minister of Environment

    Adel Nassar 961

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

    Ampere Cinema Reopens Its Doors In North Lebanon After 28 Years Of Absence

    20 Celebrities You Probably Didn’t Know Had Lebanese Roots

    April 22, 2019
    saint levant aub outdoors 2025 961

    Saint Levant Is Officially Headlining AUB Outdoors 2025!

    May 7, 2025

    Lebanon’s Shawarma Is Going Viral in The Philippines

    April 21, 2019
    dew apparel nada koussa miss lebanon 961

    Miss Lebanon Nada Koussa Just Launched A Sportswear Brand

    May 3, 2025
    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
    nada koussa miss world miss lebanon 961

    Nada Koussa Just Left To Represent Lebanon At Miss World

    May 7, 2025
    arabic words

    30 Beautiful Arabic Words You Probably Want To Learn

    April 22, 2020
    Fitness Lebanon

    15 Top Gyms in Lebanon for Every Workout Style

    November 2, 2023
    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.Okay