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New BDL Circular Allows Transfer Of USD To Cover Student Expenses Abroad, But With Conditions
Last night, Banque Du Liban issued a new circular with updated regulations concerning money transfers to students abroad, signed by BDL Governor Riad Salameh.
As per the circular, local banks will now allow the transfer of dollars from USD accounts to be able to cover tuition, rent, and living costs for students abroad.
But here are the conditions: (Because how else will they make people’s lives a living hell?)
– This is only applicable for students who had been registered and living abroad before the end of 2019.
– Customers must present valid documentation of the tuition and rent fees.
– The money should be transferred to designated parties directly.
– Transfers should not exceed $10,000 per year.
The circular does not mention anything about new students who wish to study abroad in the coming year or users with L.L. bank accounts.
Was this circular supposed to offer some comfort to people or..?
As per the circular, local banks will now allow the transfer of dollars from USD accounts to be able to cover tuition, rent, and living costs for students abroad.
Central Bank issues new circular allowing the transfer of money in foreign currency to pay tuition/rent/living costs for students abroad within a limit of $10,000/year. This is only allowed for students who were registered before the end of 2019. #Lebanon pic.twitter.com/5fBWHuOiKu
— Beirut.com (@BeirutCityGuide) August 19, 2020
But here are the conditions: (Because how else will they make people’s lives a living hell?)
– This is only applicable for students who had been registered and living abroad before the end of 2019.
– Customers must present valid documentation of the tuition and rent fees.
– The money should be transferred to designated parties directly.
– Transfers should not exceed $10,000 per year.
The circular does not mention anything about new students who wish to study abroad in the coming year or users with L.L. bank accounts.
Was this circular supposed to offer some comfort to people or..?
