BDL Issues Directive for Banks to Pay Two Monthly Installments for Beneficiaries of Circulars 158 and 166.

Beirut: Banque du Liban (BDL) issued a directive for banks to pay an amount equivalent to two monthly installments at the beginning of November to all Circulars 158 and 166 beneficiaries. BDL further stated that the provisions of these circulars will continue to apply as usual in December. According to National News Agency - Lebanon, the central bank's decision aims to provide financial relief to the beneficiaries as part of its ongoing efforts to support the economic stability of the country. The directive mandates that banks ensure the timely payment of these installments, which is expected to ease some of the financial strain on eligible individuals and entities. Circular 158, introduced by BDL, is designed to allow depositors with foreign currency accounts to withdraw a portion of their funds in Lebanese pounds and US dollars, facilitating liquidity amid the country's economic challenges. Similarly, Circular 166 provides specific mechanisms for aiding certain sectors and individuals, further contributin g to the economic recovery plan. BDL's directive underscores its commitment to implementing these circulars consistently, ensuring the continued support for beneficiaries through the end of the year. This strategic move is part of a broader financial policy framework aimed at stabilizing the banking sector and maintaining public confidence in the financial system amidst ongoing economic pressures.