par This Is Beirut, 16/01 15:44 - Reading : 3 minute(s)
The Association of Banks in Lebanon (ABL) published its economic and financial report for November 2023, in which it reviews financial, banking, economic and monetary developments. The report shows an increase in private sector deposits in Lebanese pounds with banks to 55.329 billion at the end of November 2023, compared with 50.051 billion at ...
par This Is Beirut, 23/01 18:58 - Reading : less than a minute
The Association of Banks in Lebanon (ABL) is working to guarantee depositors' rights in the short term while awaiting definitive solutions, it said in a statement issued on Tuesday, following a meeting between its board of directors and Banque du Liban's Interim Governor Wassim Mansouri and deputy governors. They discussed the best possible ...
par Bassam Abou Zeid, 23/01 21:05 - Reading : 2 minute(s)
Acting Governor of the Central Bank, Wassim Mansouri, has agreed with the Association of Banks in Lebanon (ABL) to discuss the replacement of Circular 151. This would enable beneficiaries to receive a monthly cash payment of $150. Yet, based on the information available from Tuesday's meeting at Lebanon’s Central Bank (BDL), perspectives between ...
par Liliane Mokbel, 05/02 20:58 - Reading : 2 minute(s)
The Central Bank's (BDL) first deputy governor Wassim Mansouri issued on Saturday Circular 166 on exceptional measures for the gradual repayment of bank deposits made in foreign currency after the date of 10/31/2019. Mansouri specified that Circular 166 was adopted after he had obtained the opinion of the Association of Banks in Lebanon (ABL), ...
par This Is Beirut, 13/02 21:31 - Reading : 6 minute(s)
On Tuesday, the State Council overturned a government decision, part of its “recovery strategy,” which would have destroyed the banking sector and deprived depositors of their funds. The State Council annulled on Tuesday a decision taken by the Council of Ministers in May 2022 as part of its financial recovery strategy. This decision would ...
par Maurice Matta, 13/02 22:59 - Reading : 6 minute(s)
In its final "constitutional" session before transitioning into a caretaker government, on May 20, 2022, Najib Mikati’s Cabinet endorsed a plan for financial and economic recovery. It included a document titled "Strategy for Financial Sector Revitalization," which, in its third clause, outlined the cancelation of a significant portion of the ...
par Liliane Mokbel, 14/02 10:31 - Reading : 3 minute(s)
On Tuesday, the administrative court ruled on the dispute between the Association of Banks in Lebanon (ABL) and the State. The Council of State invalidated the government's plan to abolish bank reserves at the Banque du Liban (BDL). A major blow, which calls into question the validity of the banking resolution proposed by the government. On ...
par This Is Beirut, 16/02 16:13 - Reading : 2 minute(s)
Caretaker Prime Minister Najib Mikati acknowledged for the first time that "depositors' funds have evaporated" and that "the state is 100% responsible for (evaporated) bank deposits." During a meeting with economic journalists, reported by An-Nahar’s Sabine Oueiss, Mikati emphasized that the state's responsibility regarding these deposits "is ...
par Liliane Mokbel, 16/02 21:40 - Reading : 4 minute(s)
ABL Akram Azouri BDL Council of State
The Council of State's decision to invalidate the article related to the suppression of a significant portion of the state's foreign currency commitments to the Central Bank of Lebanon (BDL), as outlined in the government's economic recovery plan dated 20/5/2022, brings some relief to depositors and bankers. However, questions concerning the ...
par Maurice Matta, 20/02 10:00 - Reading : 5 minute(s)
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 ...
par Maurice Matta, 09/07 14:10 - Reading : 4 minute(s)
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 ...
par This Is Beirut, 10/07 18:53 - Reading : less than a minute
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 ...
