Economy

BDL Issues Circular to Regulate Foreign Transfers

This is Beirut 01/07 18:15 - Reading : less than a minute

Lebanon Banks Banque du Liban Central Bank of Lebanon

Banque du Liban (BDL) issued Circular No. 169 on Tuesday, introducing new restrictions on the transfer of deposits abroad in a bid to promote fairness among depositors amid Lebanon’s ongoing financial crisis. Under the new directive, banks are prohibited from transferring deposits outside Lebanon without prior approval from BDL. The measure is ...

SpotlightBanking Reform Heats Up as Souhaid Pushes to Clarify Commission Powers

This is Beirut 01/07 11:00 - Reading : 4 minute(s)

Lebanon Banks Banque du Liban Economy

Most members of the Finance and Budget Committee’s subcommittee tasked with reviewing the draft Banking Reform Law agree on the need to protect the legislative reform process from both endless debate and political divisions, which could undermine the urgent financial restructuring Lebanon requires domestically and internationally. Participants ...

Souhaid Concludes Reform-Focused Consultations in Paris and Washington

This is Beirut 30/06 16:20 - Reading : 1 minute(s)

Washington International Monetary Fund Banks Central Bank of Lebanon Karim Souhaid

Central Bank Governor Karim Souhaid wrapped up a round of high-level technical consultations in Paris and Washington focused on advancing structural reforms in the banking sector, according to a statement issued by Banque du Liban (BDL). The meetings aimed to lay the groundwork for a comprehensive reform plan supported by legislative and ...

Khalaf Warns: “Comprehensive Plan Urgently Needed”

This is Beirut 30/06 12:15 - Reading : 2 minute(s)

Lebanon Fadi Khalaf Central Bank Bank Association Lebanon

In an op-ed published ahead of the Association of Banks in Lebanon’s (ABL) monthly report, Secretary General Fadi Khalaf once again sounded the alarm, warning that the absence of a comprehensive solution remains the greatest threat to Lebanon’s economic and financial future. With the country’s systemic crisis entering its sixth year, Khalaf ...

Top Chinese Diplomat in Europe to Promote Closer Ties

This is Beirut 30/06 09:35 - Reading : 3 minute(s)

China United States Europe Wang Yi

China's top diplomat heads to Europe on Monday for a visit that Beijing said will highlight ties as an "anchor of stability" in a world in turmoil. Wang Yi's tour will take him to the European Union's headquarters in Brussels as well as France and Germany as China seeks to improve relations with the bloc as a counterweight to superpower rival the ...

Central Bank of Lebanon’s Governor Proposes a Specialized Body for Bank Restructuring

Maurice Matta 28/06 15:00 - Reading : 6 minute(s)

Banks Central Bank of Lebanon International Monetary Fund

The subcommittee of the parliamentary Finance and Budget Committee, chaired by MP Ibrahim Kanaan, continues its review of the draft Banking Sector Restructuring Law. The discussions are centered on resolving divergences between the government's proposal, the IMF’s recommendations, and the proposals presented by Central Bank of ...

Figure of the week$4 Billion: The True Weight of Lebanon’s Agriculture Sector

Liliane Mokbel 28/06 14:00 - Reading : less than a minute

Lebanon agriculture economy food

As Lebanon endures a prolonged economic crisis, one figure remains widely overlooked: the country’s agriculture sector generates over $4 billion annually when including the entire value chain: transport, packaging, and agro-food processing. On its own, raw agricultural production is valued at $2.2 billion per year. Strengthening agriculture and ...

A Home for $100,000: Housing Bank Boosts Loan Cap

Christiane Tager 27/06 21:20 - Reading : 2 minute(s)

Banks South Lebanon

The Housing Bank (Banque de l'Habitat, BDH) has raised the ceiling for subsidized housing loans to $100,000. No miracle here, just solid financing. “This increase from $50,000 to $100,000 was made possible by a funding package – currently under negotiation – granted by the Qatar Fund to the Housing Bank,” said BDH CEO Antoine Habib in a ...

CNSS: 45 Billion Lebanese Pounds Allocated to Hospitals

This is Beirut 27/06 17:55 - Reading : less than a minute

Lebanon CNSS Healthcare Hospitals

The National Social Security Fund (CNSS) has approved a new financial advance of 45 billion Lebanese pounds for contracted hospitals. It aims to cover fixed-rate surgical procedures. The funds will be transferred to healthcare institutions and doctors in the coming days, as part of the CNSS’s policy of maintaining regular payments. CNSS ...

Unemployment: Lebanon Ranks 11th in MENA Region

This is Beirut 27/06 17:40 - Reading : 1 minute(s)

Lebanon Kuwait Middle East Qatar Unemployment

According to the latest World Bank data, Lebanon ranks 11th among MENA (Middle East and North Africa) countries in terms of unemployment, with an estimated rate of 11.5% in 2024. This figure reflects the ongoing impact of Lebanon’s compounded economic, political, and social crises since 2019. Topping the regional chart is Palestine, with a ...

The Ministry of Finance Still Stuck in the Paper Age

Liliane Mokbel 27/06 15:35 - Reading : 2 minute(s)

Lebanon Finance Ministry Yassin Jaber Digitalization Economy

Finance Minister Yassine Jaber has announced a $6 million allocation from the Lebanon Financing Facility (LFF) to modernize tax and land registry systems and support the ministry’s ongoing reform and digital transformation efforts. Established in December 2020 under the World Bank’s guidance following the Beirut port explosion, the LFF is a ...

BIA Sees Sharp Rebound in Passenger Traffic

This is Beirut 26/06 16:05 - Reading : less than a minute

Lebanon Beirut International Airport Emirates Air France UAE

Passenger traffic at Beirut International Airport (BIA) has surged again following a brief slowdown caused by heightened regional tensions. On Wednesday alone, the airport recorded 11,203 arrivals, marking a significant uptick in travel activity that may continue in the coming days. The rebound comes as several major Arab and international ...