Lebanese Banks Curtail Transfers Abroad Amid Unrest
- Central bank hasn’t imposed formal limits on money movements
- Banks reopened Friday after two-week closure due to protests
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Lebanese banks have curtailed the transfer of dollar deposits abroad until political turbulence that has engulfed the country and raised fears of a collapse in its currency peg subsides.
Lebanon has not imposed official restrictions on the movement of money as lenders reopen their doors after two weeks of nationwide anti-government protests. But banks have independently moved to tighten informal limits already in place for months to avoid capital flight amid crumbling confidence.