Can confirm, bought using an LBP byblos debit card and everything was fine (15$ PSN card from Geekay Games)Padre wroteByblos's website says up to 20$ if it's in LBP. Not sure tho, haven't tried it.
Lebanese Banks Capital Control
24 days later
Seems Bank Audi amended the limits earlier this month as most of us with Debit Cards received an sms notifying us of it.
Been trying to get in touch with them over 1570 but couldnt through, if someone has info please share.
Been trying to get in touch with them over 1570 but couldnt through, if someone has info please share.
they have a whatsapp. I asked first of july, they said $100 for USD accounts and $50 for lbp accounts, for debit cards.kareem_nasser wroteSeems Bank Audi amended the limits earlier this month as most of us with Debit Cards received an sms notifying us of it.
Been trying to get in touch with them over 1570 but couldnt through, if someone has info please share.
Weird. It was 50 USD on my LBP Debit card earlier this year, so basically nothing changed.Hybrid wrotethey have a whatsapp. I asked first of july, they said $100 for USD accounts and $50 for lbp accounts, for debit cards.kareem_nasser wroteSeems Bank Audi amended the limits earlier this month as most of us with Debit Cards received an sms notifying us of it.
Been trying to get in touch with them over 1570 but couldnt through, if someone has info please share.
8 months later
Next month will be different for those of us getting paid in Lollars: 3900/13000 LL = 70% haircut, if not more as the rate is getting worse.
I am leaning forwards not to withdraw next month, what do you guys reckon?
I am leaning forwards not to withdraw next month, what do you guys reckon?
well it not a matter of withdrawing or not, right ? it's a matter of exchanging the LBP that you withdrew for USD.Guitaret wroteNext month will be different for those of us getting paid in Lollars: 3900/13000 LL = 70% haircut, if not more as the rate is getting worse.
I am leaning forwards not to withdraw next month, what do you guys reckon?
You realize that the 3900 thingy is bait for us so they get away from paying us our money back. It used to be a 50% loss but now it is a much bigger loss. If people have no problem taking their printed money, they will still print it, the rate will be much higher while they get away with their theft of the century.nosense wrotewell it not a matter of withdrawing or not, right ? it's a matter of exchanging the LBP that you withdrew for USD.Guitaret wroteNext month will be different for those of us getting paid in Lollars: 3900/13000 LL = 70% haircut, if not more as the rate is getting worse.
I am leaning forwards not to withdraw next month, what do you guys reckon?
well of course I do know that, what I also know is that the dollars in the banks will only lose value with time not the other way around, If you have faith that you're gonna get your dollars back then by all means don't withdraw any.Guitaret wroteYou realize that the 3900 thingy is bait for us so they get away from paying us our money back. It used to be a 50% loss but now it is a much bigger loss. If people have no problem taking their printed money, they will still print it, the rate will be much higher while they get away with their theft of the century.nosense wrotewell it not a matter of withdrawing or not, right ? it's a matter of exchanging the LBP that you withdrew for USD.Guitaret wroteNext month will be different for those of us getting paid in Lollars: 3900/13000 LL = 70% haircut, if not more as the rate is getting worse.
I am leaning forwards not to withdraw next month, what do you guys reckon?
Perhaps one day the black market exchange rate will drop close to 3900.
BDL is announcing something soon regarding allowing banks and exchangers to trade dollars at a fixed rate. Another rabbit to pull out of a hat I know, but let's hope the rate comes down a bit.
Usually whenever they implement something, the implementation is so bad that rate goes up.Guitaret wroteBDL is announcing something soon regarding allowing banks and exchangers to trade dollars at a fixed rate. Another rabbit to pull out of a hat I know, but let's hope the rate comes down a bit.
2 months later
Any idea about Mawarid Bank Debit Cards international pos limit these days ?
a month later
Are the banks giving $400 fresh yet? Is there some hard to get conditions?
Here's a fairly detailed page by Bank Byblos on how they are treating BDL circular 158: https://www.byblosbank.com/about/faqs/158-banque-du-liban-basic-circular
Hybrid wroteAre the banks giving $400 fresh yet? Is there some hard to get conditions?
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I find it hilarious that they force you to withdraw both $400 (fresh USD) and $200(they convert it to LBP at 12,000L.L). From what i heard you cant just withdraw $400.
5 days later
- Edited
In my opinion, Banque du Liban Circular No. 158 bore traps that topple a large part of the remaining dollars for depositors in banks. At the same time, the banks rejected it and tried to obstruct its progress towards implementation, refusing to release large amounts of dollars. The decision allows depositors to withdraw $400 in cash and $400, according to the exchange rate of 12,000 pounds. The banks returned from their decision, announcing the acceptance of the circular. The return raised questions, the indications of which soon emerged through the pledges that banks ask their depositors to sign. It is a legislation for theft, extortion and raising the rate of risk up to the point of losing money to the depositor.
The Governor of the Banque du Liban, Riad Salameh, wanted to relieve the pressure on his shoulders, and fend off accusations against him that he was covering and legalizing the banks’ seizure of depositors’ money. After a series of circulars that received a negative response, and that only succeeded in strengthening the control of the banks and preventing depositors from disposing of their money, without a legal reason, Salameh created his decision No. 158, placing through it the responsibility of holding deposits exclusively on banks, as if he was saying to depositors: I started the process of recovering your money, and what Banks only have to pay. Banks do not have enough liquidity to meet the withdrawal requests that will be poured on them in large quantities, so they expressed their unwillingness to implement the decision.
The conditions set by banks are illegal, to say the least, because they contribute to preventing depositors from withdrawing their deposits as they wish, especially since the Capital Control Law has not yet been officially approved. Second, the terms conflict with the core purpose of the central decision. Any mistake that the depositor may make in estimating the method of withdrawal and benefiting from the decision, may deprive him of his money, and not only of benefiting from the decision. To name a few, Fransabank has ended the extortion paper called terms. It contains items that turn the Central Bank’s decision into an opportunity for banks to get rid of their customers’ accounts and transfer their dollars to their coffers. One of the clauses states that the depositor acknowledges the bank’s acquittal, “a general and comprehensive release of any right or claim of any kind, as a result of implementing the content of the book.. relieving you of any liability of any kind or source, especially if the payment process stops for any reasons beyond the control of your bank.”
Even worse, it robs the applicant of the right to “object or discuss”. In another clause, the paper to be signed states: “In the event of any misuse by us, especially if we exceed the withdrawal limit stipulated in the aforementioned circular, your bank has the absolute right to suspend our benefit from the provisions of this circular and the provisions of Basic Circular No. under 3900 lira) under penalty of taking all measures it deems appropriate, including closing all our accounts with you, waiving any right to objection or discussion. That is, the depositor who may make a mistake or omission when using the bank card to pay, or for any reason whatsoever, will give up his money.
Also, the new clauses strike the principle of banking secrecy, which banks have long sung about, as the depositor must admit that he exempts the bank from the obligations of banking secrecy within the framework of implementing the decision “against any party, especially official and unofficial, the judicial authorities and the centralization of sub-private accounts with the Banque du Liban and the Committee Banking supervision. Also, the identity of the official and unofficial bodies that will see the accounts has not been determined.
The Governor of the Banque du Liban, Riad Salameh, wanted to relieve the pressure on his shoulders, and fend off accusations against him that he was covering and legalizing the banks’ seizure of depositors’ money. After a series of circulars that received a negative response, and that only succeeded in strengthening the control of the banks and preventing depositors from disposing of their money, without a legal reason, Salameh created his decision No. 158, placing through it the responsibility of holding deposits exclusively on banks, as if he was saying to depositors: I started the process of recovering your money, and what Banks only have to pay. Banks do not have enough liquidity to meet the withdrawal requests that will be poured on them in large quantities, so they expressed their unwillingness to implement the decision.
The conditions set by banks are illegal, to say the least, because they contribute to preventing depositors from withdrawing their deposits as they wish, especially since the Capital Control Law has not yet been officially approved. Second, the terms conflict with the core purpose of the central decision. Any mistake that the depositor may make in estimating the method of withdrawal and benefiting from the decision, may deprive him of his money, and not only of benefiting from the decision. To name a few, Fransabank has ended the extortion paper called terms. It contains items that turn the Central Bank’s decision into an opportunity for banks to get rid of their customers’ accounts and transfer their dollars to their coffers. One of the clauses states that the depositor acknowledges the bank’s acquittal, “a general and comprehensive release of any right or claim of any kind, as a result of implementing the content of the book.. relieving you of any liability of any kind or source, especially if the payment process stops for any reasons beyond the control of your bank.”
Even worse, it robs the applicant of the right to “object or discuss”. In another clause, the paper to be signed states: “In the event of any misuse by us, especially if we exceed the withdrawal limit stipulated in the aforementioned circular, your bank has the absolute right to suspend our benefit from the provisions of this circular and the provisions of Basic Circular No. under 3900 lira) under penalty of taking all measures it deems appropriate, including closing all our accounts with you, waiving any right to objection or discussion. That is, the depositor who may make a mistake or omission when using the bank card to pay, or for any reason whatsoever, will give up his money.
Also, the new clauses strike the principle of banking secrecy, which banks have long sung about, as the depositor must admit that he exempts the bank from the obligations of banking secrecy within the framework of implementing the decision “against any party, especially official and unofficial, the judicial authorities and the centralization of sub-private accounts with the Banque du Liban and the Committee Banking supervision. Also, the identity of the official and unofficial bodies that will see the accounts has not been determined.
good read, but is law relevant in lebanon at this point? Everyone is pulling the blanket towards them and the lebanese is left to suffer.
No one is being prosecuted nor held accountable for anything, wether financial or criminal in nature.
Where does the court stand relative to all this bullshit?
We all know the answers.
Capital control? I don't see why they would implement it if they're happy with the current chaos. They're all one party, in my opinion
No one is being prosecuted nor held accountable for anything, wether financial or criminal in nature.
Where does the court stand relative to all this bullshit?
We all know the answers.
Capital control? I don't see why they would implement it if they're happy with the current chaos. They're all one party, in my opinion
16 days later
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Bank of Beirut contacted me and told me I should go to the branch and sign BDL circular 158, I told them I don't want to benefit and they told me there are "other" papers am required to sign. Anybody had a similar experience and knows what those "other" papers are?
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Some banks are asking you to sign this:tricky wroteBank of Beirut contacted me and told me I should go to the branch and sign BDL circular 158, I told them I don't want to benefit and they told me there are "other" papers am required to sign. Anybody had a similar experience and knows what those "other" papers are?
Basically telling their clients that they aren't responsible in case they stopped paying you
Thank you for that, but am guessing that is related to the 158, that they are not responsible if they stop paying you, but what if you dont want to sign in for the 158.Hybrid wroteSome banks are asking you to sign this:tricky wroteBank of Beirut contacted me and told me I should go to the branch and sign BDL circular 158, I told them I don't want to benefit and they told me there are "other" papers am required to sign. Anybody had a similar experience and knows what those "other" papers are?
https://i.ibb.co/yd0GQDX/b.jpg
Basically telling their clients that they aren't responsible in case they stopped paying you