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bankingFebruary 21, 2021

Hoballah addresses two letters to Central Bank, Banks’ Association to release industrialists’ deposits

NNA – Caretaker Industry Minister, Imad Hoballah, addressed two letters to the Lebanese Central Bank and the Association of Banks, regarding the implementation of the provisions of the circular issued by BDL that facilitates the release of one hundred million dollars from deposits of industrialists in banks, to import raw materials needed for their industries.

Hoballah emphasized the need for responding to the demands of the concerned industrialists whose files are approved by the Ministry of Industry for import. He indicated that nine months after issuing the BDL circular, the percentage of those benefiting has not exceeded 40%.

He concluded by stressing the great significance of this matter on the national economy movement cycle.