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FINANCIAL NEWS
No more restrictions on Lebanese BankMed foreign clients
04 Jun 2013
(MENAFN) Cyprus Finance Ministry stated that international clients of Beirut-based BankMed no longer faced restrictions on money withdrawals and transfers, reported The Daily Star.
The ministry added that after Cyprus lifted the restrictions, the number of exempted foreign banks rose to 15. The authorities announced that all restrictions will be lifted as soon as the banking system is fully back on its feet.
It is worth noting that Cyprus got a USD30 billion rescue package from European partners as well as the IMF which caused depositors in the biggest two banks in the country to suffer big losses on savings. However, things have started to look better in the last two months which caused the lifting of restrictions.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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