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World Bank Appoints New Country Manager for Lebanon

This is Beirut, 02/07 17:55 - Reading : less than a minute

Banks World Bank lebanon Enrique Blanco Armas

The World Bank has named Enrique Blanco Armas as its new Country Manager for Lebanon, the institution announced on Wednesday. Based in Beirut, Blanco Armas will lead and unify the World Bank Group’s efforts across its various arms, IBRD, IDA, IFC and MIGA, aimed at supporting Lebanon’s recovery and development. Previously a manager at the ...

BDL Issues Circular to Regulate Foreign Transfers

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

Banks Banque du Liban Central Bank of Lebanon 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 ...

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 ...

Tensions over Expat Vote Spark Heated Parliamentary Session

This is Beirut, 30/06 13:45 - Reading : 4 minute(s)

Banks Lebanese Forces USA

Parliament’s legislative session on Monday morning opened under palpable tension, against the backdrop of deep divisions over proposed amendments to the electoral law, particularly concerning the voting rights of Lebanese expatriates. Shortly after the session began, MPs from the Lebanese Forces (LF), the Kataeb party and several members of ...

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 ...

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 ...

Israel Designates Iran Central Bank 'Terror Organization'

This is Beirut, 25/06 17:04 - Reading : 1 minute(s)

Banks Israel

Israel's defence minister on Wednesday designated Iran's central bank a "terror organization," saying the move was aimed at halting financing for Iran-backed militant groups the day after a ceasefire between the two foes took hold. Minister Israel Katz "signed a special order designating Iran's central bank, two ...

Parliamentary Committees Approve $200 Million WB Loan to Revitalize Agricultural Sector

This is Beirut, 24/06 21:20 - Reading : 2 minute(s)

Banks Nizar Hani lebanon GATE World Bank

In a move described as a “decisive step toward economic recovery and food security,” joint parliamentary committees on Tuesday approved a bill allowing Lebanon to sign a $200 million loan agreement with the World Bank (WB) to fund the Green Agri-Food Transformation for Economic Recovery (GATE) program. Backed by the Ministry of ...

Lebanon on the Brink: War Fuels a Deepening Economic Crisis

Liliane Mokbel, 21/06 17:55 - Reading : 3 minute(s)

Banks Hezbollah Israel

Caught in the crossfire of the Israel-Iran war, Lebanon is struggling — against all odds — to contain the economic fallout. A near-impossible task for a country still reeling from the toll of the Hezbollah-Israel conflict, which left it drained on human, financial and institutional levels. In this climate of escalating regional tension, ...

Syria Resumes SWIFT Transfers for First Time Since 2011

This is Beirut, 19/06 16:30 - Reading : less than a minute

Banks Syria Italy SWIFT economy

For the first time since the outbreak of the Syrian civil war in 2011, Syria has completed an international bank transfer via the SWIFT system – a symbolic step toward reintegration into the global financial network. The announcement came on Thursday from Central Bank Governor Abdelkader Husrieh, who revealed in an interview with Reuters that ...

BDL Raises Monthly Withdrawal Limits

This is Beirut, 18/06 15:50 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon Lebanon

The Central Bank of Lebanon (BDL) announced on Wednesday a one-year extension of Circulars 158 and 166, initially set to expire on June 30, 2025. The decision, which comes amid a prolonged financial crisis, aims to address the pressing needs of depositors and help preserve social stability. As part of the extension, BDL also increased the monthly ...

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