File photo — Photo: Karan Jain from Washington, DC, USA / Wikimedia Commons (CC BY-SA 2.0)
Central bank weighs raising withdrawal limits: 'reserves belong to depositors'
BDL sources say a decision could come before the holidays as living costs soar.
Banque du Liban is considering raising the withdrawal limits set under Circulars 158 and 166, sources at the central bank told LBCI. Any increase needs a decision by BDL's Central Council, based on how much cash it wants in the market.
The sources said the aim is to help families cope with an "unprecedented rise" in living costs, especially fuel and school fees, and that a decision could come "at the appropriate time", possibly before the holiday season.
They also stressed that the reserves held at BDL are not the central bank's own money but ultimately depositors' money, and that returning it "is not a favour from anyone". Six years after the 2019 collapse, depositors are still waiting for a full plan to recover their savings.
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