Since November 2019, local banks in Lebanon have been imposing a Capital Control scheme, unratified by parliament, under the decree of the Central Bank. For a while, depositors were prohibited from withdrawing foreign currency deposited prior to that month, and a weekly limit was set on withdrawals in Lebanese Lira. Later on, while the official Lebanese Lira was still fixed at 1,507 to the dollar and the black market rate was escalating rapidly, reaching 40,000 to the dollar in 2022, depositors were allowed to withdraw limited amounts of their money at what came to be known as the ‘Lebanese Dollar’ (or ‘Lollar’) rate, first at 3,900LL starting in July 2020, and then at 8,000LL starting in December 2021.