The Association of Banks in Lebanon would like to remind the depositors that the deadline for applying to benefit from BDL circular 158 is by the end of September. Therefore, those who wish to withdraw USD400 in cash and the same amount at the rate of LBP12000 for the dollar have to contact their banks and ask to benefit from the circular.

For the record:

Clients cannot benefit from BDL circular 151 (withdrawals at the rate of LBP3900) if they choose to benefit from BDL circular 158.

Salaries are exempted from this condition, whereas clients can benefit from BDL circular 158 in addition to withdrawing their salaries in dollars exchanged to Lebanese pounds as per BDL circular 151, i.e. at the rate of LBP3900.

Clients can ask to stop benefiting from BDL circular 158 at any time and go back to benefiting from BDL circular 151 ipso facto.

The contracts signed with banks are not problematic and fall in the usual legal and banking frames.

For more information, clients can contact ABL’s hotline (81-676167), which is available from Monday to Friday, from 8am to 2pm.