Lebanon is grappling with a deep economic crisis after successive governments piled up debt following the 1975-1990 civil war with little to show for their spending binge. Banks, central to the service-oriented economy, are paralysed. Savers have been locked out of dollar accounts or told funds they can access are worth less. The currency has crashed, driving a swathe of the population into poverty.
BDL issued on Aug. 27, 2020, Basic Circular 154 that details the exceptional measures that banks operating in Lebanon have to take.