Lebanese pounds and U.S. dollars. (Credit: Joseph Eid/AFP)
BEIRUT — The Banque du Liban (BDL) warned financial institutions on Tuesday against refusing old U.S. dollar bills or imposing additional fees for their acceptance, cautioning them that they could face legal action.
In a statement, BDL Governor Karim Souhaid urged banks, exchange offices, and money transfer companies to "accept U.S. dollar banknotes, both old and new, without discrimination, provided they are authentic and not counterfeit."
The BDL reported receiving several complaints regarding the refusal by some financial institutions to accept old dollar bills or the imposition of additional fees. It condemned these practices as "inappropriate and illegal," stating they are based on "no legal foundation."
BDL recalled that the U.S. Federal Reserve does not distinguish between bills issued before 2013, known as "white bills," and those of the new series called "blue bills," which feature a three-dimensional security ribbon running through the center of the bill.
