|13 February, 2020

Lebanese central bank caps interest rates on deposits- Lebanese media

The Lebanese central bank has set an interest rate cap of 4% on dollar bank deposits and a cap of 7.5% on Lebanese pound deposits

Traders are seen busy working in BEMO Bank's dealing room before the end of Beirut's stock exchange trading session in Beirut, Lebanon in this April 3, 2006

Traders are seen busy working in BEMO Bank's dealing room before the end of Beirut's stock exchange trading session in Beirut, Lebanon in this April 3, 2006

REUTERS/Jamal Saidi

BEIRUT- The Lebanese central bank has set an interest rate cap of 4% on dollar bank deposits and a cap of 7.5% on Lebanese pound deposits, according to a circular reported by several major Lebanese news outlets on Thursday.

The circular, published by al-Jadeed, LBC and MTV, set a cap of 2% on dollars deposited for a month and a 4% cap on dollars deposited for a year or more. The rates apply on deposits made or renewed from Feb. 12.

(Reporting by Ellen Francis; Writing by Tom Perry; editing by John Stonestreet) ((thomas.perry@thomsonreuters.com; Reuters Messaging: thomas.perry.reuters.com@reuters.net))

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