Foreign currency withdrawals
will be made in lira
Fresh money and small depositors
excepted from BDL decision
The Central Bank (BDL) issued a new decision mandating that all withdrawals from deposits in foreign currency accounts to be converted to lira at market rates, conditional on the approval of the account holder.
The decision does not apply to ‘fresh money’, i.e. funds received after November 17, 2019, which can still be withdrawn in their original foreign currency.
Excepted from this decision are accounts of less than $3,000 or LL5,000,000 which are subject to an April 3 BDL circular.
Banks are required to publish daily their market rates.
The currency exchange should be carried out by the concerned banks through BDL.
Date Posted: Apr 21, 2020