Lebanon's banks will seek to prevent capital flight when they open on Frida...
BEIRUT - Lebanon’s banks will seek to prevent capital flight when they open on Friday but without imposing formal capital controls after a two-week closure due to nationwide protests which led the prime minister to resign, banking sources told Reuters.
But seven banking sources said on Thursday that while Governor Riad Salameh was sticking to that policy, commercial banks would only be allowing transfers abroad in cases such as payments to children, for healthcare or loan payments. The sources said banks will decide on a customer-by-customer basis who will be able to transfer money out.
Three of the sources said banks will also likely offer incentives including better interest rates and different maturity dates and try to verbally persuade people to keep their money put, three of the banking sources said.
France Dernières Nouvelles, France Actualités
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