This is Beirut

Writing Off Banks’ Capital Wipes Out Deposits

This is Beirut, 06/11 18:20 - Reading : 3 minute(s)

Lebanon Central Bank Karim Souhaid Yassine Jaber Economy Banks

The Governor of the Central Bank of Lebanon, Karim Souhaid, clarified the situation by declaring that Lebanon’s crisis is not purely a financial one but rather a systemic crisis in which the banking sector has become a victim. This is what Souhaid stated clearly during the parliamentary session dedicated to discussing the 2025 budget draft, ...

Gold: Sell or Buy More?

Liliane Mokbel, 06/11 10:00 - Reading : 4 minute(s)

Banks USA China Gold

For years, gold was seen as a safe haven, more a way to store wealth than a true investment. Holding physical gold has traditionally been considered a long-term hedge against inflation. But the surge in the price of the yellow metal in 2025 has shaken that belief. With a rise of more than sixty percent since the start of the year, gold can no ...

The IMF and Lebanon: Debts? Which Debts?

Marc Saikali, 06/11 08:00 - Reading : 2 minute(s)

International Monetary Fund Lebanon Banks

When it comes to the IMF, one thing stands out above all: a consistent pattern of bad advice. Governments change, wars erupt, and yet this venerable institution remains glued to its Excel spreadsheets, always heeded by Lebanese ministers, especially the finance minister. The International Monetary Fund, the self-proclaimed savior of struggling ...

Where Were You, Samir Hammoud?

This is Beirut, 05/11 16:35 - Reading : 1 minute(s)

Lebanon Banks Economy

High-level banking sources were surprised by comments made by the senior adviser to the Minister of Finance, Yassine Jaber, to the “Al-Markaziya” outlet regarding depositors’ accounts. According to Samir Hammoud’s statement, “If there are irregularities in depositors’ accounts, there are also irregularities in banks’ ...

Yitzhak Rabin: Oslo Accords Architect Assassinated 30 Years Ago

Élie-Joe Kamel, 04/11 21:15 - Reading : 3 minute(s)

Palestine Banks Hamas Israel Middle East

On November 4, 1995, in Tel Aviv, three gunshots ended the life of former Israeli Prime Minister Yitzhak Rabin, plunging the nation into shock. On what was then Kings of Israel Square, now Rabin Square, the architect of the Oslo peace process fell, struck by the bullets of an ultranationalist Israeli Jew. The assassin, Yigal Amir, a far-right ...

BDL Launches Judicial Audit of Payments Since 2019

This is Beirut, 04/11 18:50 - Reading : 1 minute(s)

Banks Banque du Liban Central Bank of Lebanon

Karim Souhaid, Governor of the Central Bank of Lebanon (BDL), announced Tuesday that the BDL, in coordination with the Ministers of Finance and Justice, will draw up terms of reference for an external financial and judicial audit of all beneficiaries of the basic goods support program since October 17, 2019. The initiative will be launched through ...

Financial Times Revives Debate Over Hezbollah’s Funding in Lebanon

Liliane Mokbel, 03/11 20:10 - Reading : 3 minute(s)

Hezbollah Banks Central Bank of Lebanon Sanctions Financial Times

On Sunday, the Lebanese market reacted strongly to a Financial Times (FT) investigation suggesting that Hezbollah has been using digital wallets and money transfer companies to raise funds and support its purported “charitable” networks. The companies under scrutiny — providers of digital wallets and money transfer services — quickly ...

Lebanon's Industry: Resilient Yet Transforming

Christiane Tager, 31/10 12:15 - Reading : 3 minute(s)

Banks European Union

In Lebanon, industry remains both a social buffer and a key provider of foreign currency. Yet its macroeconomic footprint has shrunk, reflecting an economy battered by currency collapse, weak domestic demand, and high energy costs. Caught between export momentum and fragile profit margins, the “made-in-Lebanon machine” moves forward ...

Kanaan Rejects New Taxes and Calls for Fair Public Sector Reform

This is Beirut, 30/10 16:00 - Reading : 2 minute(s)

Banks International Monetary Fund Washington Ibrahim Kanaan lebanon

Head of Parliament’s Finance and Budget Committee, MP Ibrahim Kanaan, reiterated on Thursday that the committee “rejects any increase or creation of new taxes and fees” aimed solely at closing the state’s budget deficit. “Every time the state needs funding, it imposes new burdens on citizens. This approach must stop,” Kanaan declared ...

Mali’s Fuel Crisis: A Nationwide Standstill

Christiane Tager, 29/10 10:00 - Reading : 3 minute(s)

Banks International Monetary Fund

Since early September, queues at gas stations in Bamako have been endlessly growing. The jihadist group JNIM (Jamaʿat Nuṣrat al-Islam wal-Muslimin) has blocked fuel convoys from Senegal and Côte d’Ivoire, destroying nearly 100 tanker trucks, according to the Associated Press (AP). As a landlocked country, Mali relies on imports for more ...

Beirut’s Southern Suburbs: Real Estate Sales Driven by Fear of a New War

This is Beirut, 28/10 19:40 - Reading : 2 minute(s)

Banks Hezbollah Israel

The southern suburbs of Beirut are reportedly seeing an unprecedented wave of real estate sales amid rising tensions between Israel and Hezbollah. A political and military stronghold of the pro-Iranian militia, this densely populated area was heavily targeted during the fall 2024 war and continued to face strikes even after the ceasefire reached ...

No Electoral Reform in Sight as Parliament Faces Quorum Doubts

Élie-Joe Kamel, 27/10 18:10 - Reading : 4 minute(s)

Free Patriotic Movement Lebanese Forces Amal Banks Central Bank of Lebanon

Uncertainty continues to surround the plenary session scheduled for tomorrow, Tuesday. The session is set to resume the review of bills and draft laws that were on the agenda for the September 29 meeting. That session was postponed after MPs from several parliamentary blocs, including the Lebanese Forces (LF), Kataeb, the Progressive Socialist ...

Banks