Afiouni calls for issuing transparent circular regulating restrictions on withdrawal of deposits and transfers

Caretaker State Minister for Investment and Technology Affairs, Adel Afiouni, tweeted Sunday on the prevailing banking situation, saying: "Lebanese banks and monetary authorities must issue an accurate, detailed and transparent circular that clearly regulates the restrictions on withdrawals of deposits and money transfers."

"Temporary, uniform and fair restrictions on deposits to cope with pressure on liquidity are acceptable," Afiouni said. However, he considered that "ambiguity and discretionary ways are not acceptable and are harmful to the sector."

"Depositors' confidence denotes the most important capital of the banking sector," he underscored.