Lebanon’s Central Bank (BDL) is said to be actively working on completing the technical elements of the Bloomberg platform, aimed at “regulating” the exchange rate and the movement of purchases and transactions. This will enable financial market professionals to access the foreign exchange markets and trade currencies using the functionalities and data provided by the Bloomberg system.
Information quoted by the Al-Markaziya agency indicates that the Central Bank intends to enter into a consensual agreement with Bloomberg to provide connection services and subscriptions to access the database on the platform.
Also, according to Al-Markaziya, sources active in the banking sector have affirmed that “the technical foundations of this platform are being prepared so that it will soon be operational. The launch will take place once all the preparations, already well underway, have been completed.”
The BDL and the government had agreed to adopt the Bloomberg platform for foreign exchange operations, in accordance with Council of Ministers decision number 13, of September 7, 2023, as well as BDL Central Council decision number 406 dated October 23, 2023.
