The Banque du Liban (BDL) has issued a directive requiring all banks, financial institutions, money exchange companies and electronic money transfer firms operating in Lebanon to accept all authentic US dollar banknotes, regardless of whether they are from older or newer series.
In a statement released on Tuesday, the central bank emphasized that any refusal to accept legitimate dollar notes, or any attempt to discriminate between note series, constitutes a legal violation.
“Any distribution or practice contrary to this is considered a violation and exposes the perpetrator to legal accountability,” the BDL warned, adding that it would be closely monitoring the issue.
The move comes in response to a surge in public complaints alleging that some institutions were refusing to accept older US bills.
“These practices are illegal and unjustified,” the BDL stated. “They are not grounded in any legal or regulatory framework and impose undue pressure and hardship on citizens, particularly amid declining incomes and restricted access to capital and savings.”
The central bank also pointed out that the US government itself does not distinguish between old and new notes in terms of legitimacy or market usability, as long as they are authentic and not damaged.
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