Banque du Liban

Figure of the Week: Electricity Production Up 36.7% in the First Half of 2024

Liliane Mokbel, 12:00 - Reading : less than a minute

lebanon Banque du Liban electricity

Electricity production increased by 36.7% in the first half of 2024 compared to the same period in 2023, according to data from the Banque du Liban. It reached 2.239 million kilowatt-hours (kWh), up from 1.638 million kWh during the same period last year. This growth continues the 41.7% increase seen between 2022 and 2023, when total production ...

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 ...

Lebanese Pound Demand Surges as BDL Boosts Reserves by $120 Million

This is Beirut, 10/01 11:00 - Reading : 1 minute(s)

Banque du Liban Joseph Aoun Hezbollah Lebanese Pound

The surge in demand for the Lebanese pound continues, prompting the Central Bank (BDL) to bolster its reserves by $120 million within a mere two-day span. With General Joseph Aoun's election as President of the Republic, the demand for the pound has surged, reaching even higher levels for the second consecutive day. In response, BDL injected the ...

Lebanon's Central Bank Walking a Tightrope

Liliane Mokbel, 2024-11-30 15:05 - Reading : 3 minute(s)

Banque du Liban Circulars

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 ...

Public Sector: Salaries Are Ready

This is Beirut, 2024-11-28 20:55 - Reading : less than a minute

Banque du Liban

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 ...

Total Assets of Lebanese Commercial Banks Drop 8.06% YoY as of August 2024

This is Beirut, 2024-11-28 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 ...

Depositors May Have Two Monthly Payments Instead of One!

This is Beirut, 2024-10-30 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 ...

Maroun Khater: 'Defusing the Cheques Time Bomb'

Liliane Mokbel, 2024-10-11 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 ...

ABL Meets with Mansouri

This is Beirut, 2024-10-08 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 ...

BDL and Government Prioritize Palliative Solutions

Liliane Mokbel, 2024-09-26 20:20 - Reading : 2 minute(s)

Banque du Liban

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 ...

Mansouri at the UBA Forum: 'We're Working Hard to Avoid the Grey List'

This Is Beirut, 2024-08-22 16:24 - Reading : 3 minute(s)

Banque du Liban

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 ...

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