Liliane Mokbel, 30/11 15:05 - Reading : 3 minute(s)
Lebanon’s Central Bank (BDL) is easing the pressure to appease the foreign exchange market, amid a “neither war nor peace” climate that only heightens its volatility. The decision by the BDL’s Central Council, dated November 26, 2024, reflects clear intent to implement a “flexible monetary policy” even though this approach might ...
This is Beirut, 28/11 20:55 - Reading : less than a minute
On Thursday, the Ministry of Finance announced that, after completing the transfer procedures for retirees' pensions and salaries for all military personnel, members of these groups will be able to withdraw their salaries from their private banks starting tomorrow, Friday, November 29. As for the salaries of other public employees, transfers will ...
This is Beirut, 28/11 16:25 - Reading : 2 minute(s)
Banque du Liban Lebanese Banks
According to the consolidated balance sheet of Lebanese commercial banks, total assets contracted by 8.06% year-on-year (YoY), dropping to $104.56 billion in August 2024. This decline followed Banque du Liban’s (BDL) adoption of a new official exchange rate of LBP 89,500 per USD, effective January 31, 2024. Currency and deposits with BDL ...
This is Beirut, 30/10 12:15 - Reading : less than a minute
Banks Banque du Liban Central Bank of Lebanon
In the coming 48 hours, beneficiaries of Banque du Liban (BDL) Circulars 158 and 166, related to exceptional withdrawals of fresh dollars, will receive updates regarding potential amendments. A source close to the Central Bank has indicated that the number of monthly payments available to eligible depositors will be reduced to two, instead of the ...
Liliane Mokbel, 11/10 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 ...
This is Beirut, 08/10 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 ...
Liliane Mokbel, 26/09 20:20 - Reading : 2 minute(s)
In the aftermath of an absurd war, presented as support for Gaza, the Banque du Liban (BDL) and the Lebanese government have once again been compelled to rely on palliative solutions in the absence of more radical alternatives. In a memo signed by BDL Acting Governor Wassim Mansouri, banks have been instructed to provide beneficiaries of ...
27/08 17:57 - Reading : less than a minute
Under Wassim Mansouri’s leadership, Banque du Liban has seen a surge in foreign currency reserves, offering a glimmer of hope amid ongoing political and economic turmoil. A report by Mohamad Zahwe for Houna Loubnan adapted by This is Beirut.
This Is Beirut, 22/08 16:24 - Reading : 3 minute(s)
Wassim Mansouri, the first vice-governor of Banque du Liban (BDL), said on Thursday that “Banque du Liban is working to establish a state of stability pending major solutions that require the action of political forces," and he emphasized that “we are still working hard to prevent Lebanon from being included on the FATF's grey list.” In a ...
This Is Beirut, 06/02 15:42 - Reading : 1 minute(s)
Électricité du Liban (EDL) announced on Tuesday that certain charges have been abolished or reduced, based on decisions taken by its Board of Directors following approval by the relevant ministerial authorities. These amendments will be reflected in electricity bills issued from May 2023 onwards, with printing starting next week, according to a ...
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 ...
Liliane Mokbel, 17/01 22:43 - Reading : 3 minute(s)
Initiating an adjustment of the dollar exchange rate at 89,500 Lebanese pounds before transitioning to a floating exchange rate regime is a prudent and essential measure. While standardizing the exchange rate is vital for economic revitalization, a key question remains: Does this imply a floating system, where the dollar-to-pound exchange rate is ...