Close Menu
    Facebook X (Twitter) Instagram
    Thursday, July 17, 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
    Lebanon Banks Are Lowering LBP Monthly Withdrawals
    AP
    2 Mins Read

    Banks In Lebanon Just Lowered The Monthly Withdrawal Limit Of Lebanese Pound

    By Hussein YassineOctober 15, 2020Updated:October 23, 2020
    Facebook WhatsApp Copy Link

    Many banks across Lebanon are imposing a new, lower monthly Lebanese pound withdrawal limit.

    The decision, made individually by certain banks, came after a circular by the central bank, which set new terms that would practically allow each bank to withdraw only as many pounds as its account size in the BDL allows.

    Consequently, banks across Lebanon are now forced to lower the ceiling of allowed monthly pound withdrawals for depositors, in accordance with their respective monthly capacity to withdraw from the central bank, and many have already done so.

    The Banque du Liban
    Bloomberg

    It’s noteworthy that, in response to the panic that followed the news of the new measure began to spread in Lebanon, Central Bank Governor Riad Salameh denied in a statement that his circular had called on banks to lower the limit of monthly pound withdrawals for their customers.

    Nonetheless, as experts have pointed out, forcing the commercial banks to withdraw according to the sizes of their accounts in the BDL will inevitably have an effect on the depositors at these banks.

    This is especially true considering that the current pound accounts of banks are mostly insufficient to meet the daily demands of their depositors, particularly since depositors with dollar accounts are allowed to withdraw their “lollars” in Lebanese pounds at the exchange rate of 3,900 LBP/USD.

    View this post on Instagram

    A post shared by Ucel Change Office (@ucelchangeoffice) on Dec 29, 2019 at 3:41am PST

    However, since each bank has a different asset size, the pound cash withdrawal limit will differ from bank to bank, and some might not even lower the monthly limit at all if their assets in the BDL are sufficient to avoid such a measure.

    Lebanese Lira
    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.