The street of the Bank of Lebanon, in Jounieh, in Kesrouan. (Credit: Philippe Hage Boutros.)
On Tuesday, June 17, newly appointed Banque du Liban (BDL) Governor Karim Souhaid made one of his first major moves by raising the withdrawal limits of Circulars No. 158 and No. 166 to $800 and $400, respectively.A decision that comes as the central bank’s council remains effectively paralyzed amid ongoing political deadlock over the appointment of vice-governors."The governor acts within the framework of the prerogatives granted to him by articles 70 and 174 of the Code of Money and Credit (CMC), which allow him to take exceptional measures in case of emergency, to ensure monetary stability and the continuity of public service," explains a source close to BDL. Zooming out on housing loans Banque de l’Habitat raises ceiling for its subsidized housing loans to $100,000 "It's a political communication operation...
On Tuesday, June 17, newly appointed Banque du Liban (BDL) Governor Karim Souhaid made one of his first major moves by raising the withdrawal limits of Circulars No. 158 and No. 166 to $800 and $400, respectively.A decision that comes as the central bank’s council remains effectively paralyzed amid ongoing political deadlock over the appointment of vice-governors."The governor acts within the framework of the prerogatives granted to him by articles 70 and 174 of the Code of Money and Credit (CMC), which allow him to take exceptional measures in case of emergency, to ensure monetary stability and the continuity of public service," explains a source close to BDL. Zooming out on housing loans Banque de l’Habitat raises ceiling for its subsidized housing loans to $100,000 "It's a political communication...
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