Decision Effective March 1
The Central Bank (BDL) announced that it will increase the monthly withdrawal limits of circulars No. 158 and 166 starting March 1. This decision was made after consulting with President Joseph Aoun, Prime Minister Nawaf Salam, and Finance Minister Yassine Jaber
New Withdrawal Limits
BDL stated that the monthly withdrawal limit for circular No. 158 will be raised to $500, and for circular No. 166 to $250, starting March 1. They also emphasized the need for laws to ensure the return of depositors’ funds and mentioned ongoing communication with the government and Parliament to achieve this goal.
To implement this decision, BDL is expected to issue interim circulars that modify previous mechanisms. Last October, BDL temporarily allowed withdrawals of three times the authorized amount for that month and twice the amount for November, December 2024, and January 2025, before stopping this exception in February.
Circulars Valid Until June 2025
Circulars No. 158 and 166, valid until June 2025 unless extended, are part of measures by BDL since the banking crisis began in 2019. These measures aim to partially compensate for restrictions on “lollar” (bank dollars) accounts opened before the end of 2019.
