he proposed law does not only put restrictions on transfers abroad, but it also imposes strict controls on withdrawals by depositors from their lira and U.S. dollar accounts in Lebanese banks. The constraint on amounts withdrawn from deposits is by itself more damaging than the limitations enforced on transfers abroad. The fifth article of the proposed law set the maximum monthly withdrawal at $1,000 per person. A special committee decides the currency (foreign or national currency) in which this amount is to be paid
A fatal blow to the economy
Mar 18, 2022
3 minutes
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