This is Beirut

BDL Raises Withdrawal Limits of Circulars 158 and 166

This is Beirut, 19/02 15:50 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon

The Central Board of Lebanon's Central Bank (BDL) has approved an increase in withdrawal limits under circulars 158 and 166, allowing depositors to withdraw $500 and $250 per month respectively. The decision will take effect on March 1, 2025. In a statement issued Wednesday, the BDL explained that the decision aligns with its ongoing policy ...

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

ABL Banks

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%, ...

Reactions Against US President Donald Trump's Controversial Plan for Gaza

This is Beirut, 12/02 10:45 - Reading : 1 minute(s)

Donald Trump USA Palestine Banks West Bank

Arab League secretary-general Ahmed Aboul Gheit on Wednesday rejected any displacement of Palestinians from the Gaza Strip and West Bank, calling it "unacceptable" for the region. "The focus today is on Gaza today and tomorrow it will shift to the West Bank with the objective of emptying Palestine of its historical inhabitants," he said at the ...

Islamic State Group Claims Suicide Bombing of Afghan Bank

This is Beirut, 12/02 10:00 - Reading : 2 minute(s)

Banks Islamic State Afghanistan

The Islamic State group claimed Wednesday a suicide bombing of a bank in north Afghanistan which killed five people a day earlier, saying it was targeting Taliban government employees collecting salaries. Violence has waned in Afghanistan since the Taliban surged back to power and ended their insurgency in 2021, but the Islamic State (IS) group ...

US Foreign Aid Halt to Have Major Hit on Poorest Countries: Report

This is Beirut, 11/02 19:25 - Reading : 2 minute(s)

USA Donald Trump Banks United States Washington

A suspension of US foreign aid and possible dismantling of the US Agency for International Development (USAID) will have a major impact on some of the world's poorest countries, the Washington-based Center for Global Development (CGD) warned Tuesday. For more than 20 economies, a year-long pause on US aid could mean a loss of over one percent ...

Real Estate Prices: How Have They Changed Over Time?

Liliane Mokbel, 11/02 16:32 - Reading : 4 minute(s)

Banks Lebanon Real Estate Market

Lebanon’s real estate market is currently defined by a mismatch between sellers’ and buyers’ expectations. While sellers are banking on a price increase, driven by hopes of an economic recovery following the election of a president after more than two and a half years of political deadlock, buyers continue to perceive a stagnant market. A ...

Government Formation Delay: What Lies Ahead for Bank Withdrawal Limit Increases?

Maurice Matta, 06/02 10:55 - Reading : 3 minute(s)

Banks Banque du Liban Central Bank of Lebanon

As the political situation remains uncertain, especially regarding the formation of the government, the Central Bank of Lebanon decided at the end of January to suspend its previous policy that required banks to make multiple monthly payments to beneficiaries of Circulars 158 and 166. This decision restores withdrawal limits to pre-crisis ...

The Challenge of Housing Loans in Lebanon

Liliane Mokbel, 04/02 17:35 - Reading : 3 minute(s)

Banks

To encourage young graduates to stay in Lebanon, it is imperative to first offer them job opportunities and then viable solutions for homeownership. However, today, the landscape of real estate credit remains unclear, with no serious plan for the recovery of public and private institutions yet in place. In principle, three entities are capable of ...

Israeli Army Says 'a Number of Terrorists' Killed in West Bank Operation

This is Beirut, 02/02 11:00 - Reading : 2 minute(s)

Banks Palestine West Bank

The Israeli army said Sunday that it had killed "a number of terrorists" in three air strikes the previous day in the occupied West Bank, where a new operation was underway around the village of Tamun. Eyewitnesses reported a "large" deployment of Israeli forces around Tubas and Tamun, the scene of recent violence. An AFP journalist said the ...

Al-Qard al-Hassan Delays Compensation Payments: Is Hezbollah in Trouble?

This is Beirut, 31/01 16:35 - Reading : 3 minute(s)

Hezbollah Banks Israel Al-Qard al-Hassan

The recent decision by Al-Qard al-Hassan, Hezbollah’s illegal financial institution, to postpone until February 10 the payment of compensation to victims of the conflict with Israel has sent shockwaves through the Shiite community. The payments were originally scheduled for February 1. To justify this delay, the militia-run ‘bank’ cited ...

The Fate of Circular 165

Maurice Matta, 30/01 09:15 - Reading : 4 minute(s)

Economy Lebanon Banks BDL

In a surprising move just days before her retirement, Judge Helena Iskandar, Head of the Litigation Department at the Ministry of Justice, filed two motions before the State Council, requesting the Lebanese State’s intervention in the lawsuits aimed at annulling Circulars No.151 and No.165, submitted by lawyers. The conclusion was that the ...

Third Exchange Of Hostages For Prisoners As Part Of The Truce In Gaza

This is Beirut, 30/01 05:25 - Reading : 4 minute(s)

Palestine Donald Trump Benjamin Netanyahu Banks Hamas

Israel and Hamas are due to carry out their third exchange of hostages for prisoners on Thursday, with the release of eight hostages, three Israelis and five Thais, held in the Gaza Strip, as part of the fragile ceasefire intended to put an end to 15 months of war. A fourth exchange is scheduled for Saturday, with the release of three hostages, ...