This is Beirut

Figure of the Week: Lebanon’s Fresh Dollar Transactions Surge in 2024, Reaching $302 Million

Liliane Mokbel, 15/02 12:00 - Reading : less than a minute

In 2024, the total value of fresh dollar checks cleared amounted to $302 million, according to data from the Association of Banks in Lebanon (ABL) and the research department at Bank Audi. On average, $25.2 million in fresh dollar checks were cleared each month throughout the year. The value of these checks experienced a monthly increase of 17%, ...

Aoun: The Deposit Issue Calls for Coordinated Efforts

This is Beirut, 27/01 13:40 - Reading : less than a minute

ABL Banks Joseph Aoun

The President of the Republic, Joseph Aoun, emphasized that resolving the issue of deposits requires “coordinated efforts.” He made these comments during a discussion with a delegation from the Association of Banks in Lebanon (ABL), led by its president, Salim Sfeir. President Aoun stated that “resolving the banking crisis requires ...

Khalaf: Central Bank's Policies Reflect Change

This is Beirut, 2024-10-21 21:40 - Reading : 3 minute(s)

ABL Banks Central Bank of Lebanon

The Secretary-General of the Association of Banks in Lebanon, Fadi Khalaf, stated that “the new policies adopted by Lebanon’s Central Bank (BDL) indicate a clear change in its approach to managing the financial crisis.” He welcomed “these measures, which reflect the Central Bank’s commitment to achieving as much monetary and financial ...

Maroun Khater: 'Defusing the Cheques Time Bomb'

Liliane Mokbel, 2024-10-11 11:05 - Reading : 3 minute(s)

ABL Banks Banque du Liban Central Bank of Lebanon

In its meeting on October 9, 2024, the Central Council of Banque du Liban (BDL) amended main circular No. 166, extending its benefits to depositors who converted their funds from Lebanese pounds to foreign currencies after October 30, 2019. The council also updated main circular No. 147, requiring banks to return outstanding or circulating bank ...

ABL Meets with Mansouri

This is Beirut, 2024-10-08 19:35 - Reading : less than a minute

ABL Banks Banque du Liban Central Bank of Lebanon

The Board of Directors of the Association des Banques du Liban (ABL) met with the First Deputy Governor of the Banque du Liban (BDL), Wassim Mansouri, in the presence of his deputies, to discuss the situation of the banking sector in light of the difficult circumstances facing the country. Participants stressed the need to continue providing ...

Khalaf: Significant Challenges Related to FATF

This Is Beirut, 2024-08-19 17:16 - Reading : 2 minute(s)

ABL Central Bank of Lebanon

The Secretary General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, indicated that despite the significant efforts made by the Central Bank of Lebanon (BDL) to avoid including Lebanon on the gray list, and keep the banks clear from thorough monitoring of transfers, major challenges remain. He stressed that Lebanon is still under ...

Khalaf: Return of Bank Credit Is Essential for Economic Recovery

This Is Beirut, 2024-07-22 17:59 - Reading : 1 minute(s)

ABL

Secretary General of the Association of Banks in Lebanon (ABL) Fadi Khalaf said, in the preamble of the association's monthly report titled “The return of loans will contribute to the recovery of deposits,” that restoring the banking sector's normal role, particularly in the field of credit, is essential to getting the Lebanese economy moving ...

Ministry of Finance: Taxing Windfall Profits

Liliane Mokbel, 2024-07-17 20:46 - Reading : 4 minute(s)

ABL

The Ministry of Finance has directed the Association of Banks in Lebanon (ABL) to notify its members to provide a list of their clients, individuals and entities, including names, addresses and tax registration numbers, who have repaid their debts in bank dollars or lollars. This request is based on provisions of tax procedural law and aims to ...

Postponement of the ABL General Assembly

This Is Beirut, 2024-07-10 18:53 - Reading : less than a minute

ABL

The general assembly of the Association of Banks in Lebanon (ABL), scheduled for Wednesday, was postponed due to a lack of quorum. According to the Al-Markazia news agency, a banking source indicated that the current mandate of the association's board of directors has not yet expired. Therefore, the board will continue to perform its duties until ...

Crucial Juncture for ABL Elections

Maurice Matta, 2024-07-09 14:10 - Reading : 4 minute(s)

ABL

The Association of Banks in Lebanon (ABL) is preparing to elect its new board of directors next Wednesday. Consensus has historically shaped the outcome of each election, and this year's electoral process is equally critical, mirroring the importance of the two previous ones, given the precise circumstances, ongoing presidential vacancy, financial ...

Chaotic Exchange Rate: Will the MOF Transition to 25,000 LBP?

Maurice Matta, 2024-02-20 10:00 - Reading : 5 minute(s)

ABL

A recent decision of the State Council was accepted following a review by the Association of Banks in Lebanon (ABL), which nullified the government's directive in the financial recovery plan to cancel the Lebanese Central Bank (BDL) obligations in foreign currencies to banks. This decision dealt a significant blow to caretaker Prime Minister ...

When and How Will Deposits Be Recovered?

Liliane Mokbel, 2024-02-16 21:40 - Reading : 4 minute(s)