Banque du Liban Considers Withdrawal Limit Increase

Sources at the Bank of Lebanon indicate that the move to raise the withdrawal limits under Circulars 158 and 166 is currently under study. The decision depends on the amount of cash needed in the market, as well as the Central Bank's efforts to help depositors overcome the crisis—especially given the high living costs. It is anticipated that this decision will be made at the appropriate time, possibly before the holidays, with an emphasis that the reserves belong to depositors and are not a favor from anyone. Restoring these funds is not an option but a responsibility of the Central Bank.