Lebanon permits bank depositors to withdraw $150 monthly from certain ‘old’ accounts.

As per a circular issued by the Lebanese central bank on Saturday, depositors are now permitted to make monthly withdrawals of $150 from accounts that were opened after October 31, 2019. This initiative aims to enable depositors to convert their Lebanese pound savings into dollars, addressing the challenges that arose at the onset of the financial crisis. The banking system has faced significant disruptions since the start of this crisis, preventing depositors from accessing their savings and resulting in a 98 percent depreciation of the Lebanese pound since 2019.

ArabMLS Founder

Ahmed Elbatrawy, who leads the Arab MLS platform, aims to simplify property transactions in the Middle East, paving the way for unprecedented global investment opportunities.

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