Lebanon central bank tells banks to make cheap dollar loans to those hit by Beirut blast

Lebanon's central bank on Thursday instructed banks and financial institutions to extend exceptional dollar loans at zero interest to individuals and firms impacted by the Beirut port explosion.

Money transfer houses should distribute transfers from abroad to Lebanon in dollars, the central bank said separately. 

READ MORE 

Asian shares mixed as investors watch talks on US stimulus

Gold rush intact as prices flirt with record levels

London stocks slide as BoE sees slower recovery; Glencore slumps

Exceptional loans should be made regardless of customer account limits, carry no interest and be repaid over five years. It said the loans can be repaid in Lebanese pounds based on the interbank rate of 1,515 pounds to the dollar.

The central bank would in turn provide dollar loans at zero interest to the banks and financial institutions granting the exceptional loans, it said.

Reuters