Lebanon Businessnews News

Double your dollars program
launched by Bank Audi
Augmented fresh deposits

can be immediately spent locally

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Bank Audi launched today a product to attract ‘fresh’ dollar deposits.

Existing and new clients who deposit fresh money will immediately earn 2.1 times that amount. For example, a deposit of $10,000 will become $21,000.

The deposited amount, with its augmented value, will be treated as ‘old’ money. It will become immediately available for spending inside Lebanon – like a regular ‘old money’ account, through regular or banker’s checks, and payment cards. This applies to the entire augmented deposited amount. No cash withdrawals will be allowed.

The minimum deposit amount is $1,000 with no upper limit. There is no minimum account balance requirement. The funds will not be locked for any period of time.

Fresh money already deposited in banks will benefit from the same program – effectively transforming it into ‘old’ money.

The offer is valid until the end of May 2020.

All deposits that have been made in cash locally or through transfers from abroad are considered ‘fresh’ money.

None of the other large banks has announced a program to attract ‘fresh’ dollars.
Date Posted: Apr 24, 2020
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