BDL Offers through Circular 152 Support to Those Affected by the Tragic August 4th Blast of the Port of Beirut

BDL issued on August 6th 2020 circular 152 in which it provides financial support to those affected by the horrible explosion that hit the Port of Beirut on August 4th 2020. With the proper supporting documentations, the support involves extending through Lebanese banks exceptional loans – irrespective of loan limits — in USD to individuals, small-and medium- size enterprises, and corporates so as to repair their houses and offices. The loans are at 0% interest rates and commissions and are extended over five years, payable at the end of each month or quarter (depending on the contract) starting from 31/10/2020. The loans could be paid back in Lebanese pounds (LBP) but at an exchange rate against the USD that is set by BDL’s transactions with the banks. Prepayment of the loans is also feasible at no commissions or fees. Excepted from the loans are real estate developers. In addition, regulatory and precautionary capital ratios do not apply to the loans.

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