This is Beirut - Central Bank of Lebanon

When Kostanian Admits Defeat and the End of Kulluna Irada’s Project!

Tony Abi Najem, 20/02 21:50 - Reading : 4 minute(s)

The article written by Albert Kostanian, published on al-Modon’s website and titled “Announcing Defeat,” stood out. He begins with the statement: “After nearly six years of media and technical battles, the time has come to announce defeat.” In this article, where every sentence could be analyzed, it is important to focus on several key ...

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 ...

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 ...

All Eyes on the Ministry of Finance

Natasha Metni Torbey, 27/01 22:00 - Reading : 4 minute(s)

Amal Banks Central Bank of Lebanon Hezbollah International Monetary Fund

The exception is not the rule. This saying does not apply to Lebanon, where for over a decade, well after the signing of the Taif Agreement in 1989, the Amal-Hezbollah duo has persistently claimed—“de facto and de jure,” as they often assert—the Ministry of Finance, one of the most coveted portfolios in the country. The reasons behind ...

BDL’s Foreign Reserve Assets Stand at $10.35B After a $210.47M Rise in the First Two Weeks of January 2025

This is Beirut, 23/01 13:50 - Reading : 2 minute(s)

Central Bank of Lebanon Balance sheet of BDL Foreign Reserve Assests

According to the balance sheet of Lebanon’s Central Bank (BDL), the Bank’s total assets declined by 13.44% annually, to reach $93.22 billion by mid-January 2025, under the 89,500 LBP/USD official rate maintained by BDL since February 1, 2024. The fall was mainly due to the 80.60% and 24.49% year-on-year (YOY) drop in deferred open market ...

Invalid 2025 Draft Budget to Be Returned to Cabinet Urgently

Maurice Matta, 22/01 12:55 - Reading : 4 minute(s)

Central Bank of Lebanon 2025 Budget parliament Draft Budget

On October 4, 2024, Caretaker Prime Minister Najib Mikati's government issued Decree No. 14076, submitting the 2025 draft budget to Parliament. Signed by Mikati and Finance Minister Youssef Khalil, it has since been left untouched, pending review by key committees, notably the Finance and Budget Committee and the Administration and Justice ...

Is It Possible to Return Syrian Bank Deposits?

Liliane Mokbel, 21/01 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Depositors Syrians

During a visit to Syria in early January, caretaker Prime Minister Najib Mikati was met with a striking demand from the country’s new ruler, Ahmad al-Sharaa: the restitution of Syrian deposits held in Lebanese banks. While the request might appear justified on the surface, it lacks clarity and a solid legal foundation, according to a legal ...

Exchange Rate Stability: Lebanese Pound Withstands the Surge

Christiane Tager, 11/01 13:00 - Reading : 2 minute(s)

Banks Central Bank of Lebanon Lebanese Pound Dollar Joseph Aoun

For some time now, rumors have suggested a drop in the exchange rate from 89,500 pounds per dollar to 50,000. However, Nassib Ghobril, Chief Economist at Byblos Bank, dismisses such claims as “not serious.” “The Lebanese pound has experienced a frenzied demand since the ceasefire and Thursday’s presidential election. Speculators started ...

A Herculean Task for the New President

Michel Touma, 09/01 10:00 - Reading : 5 minute(s)

Banks Central Bank of Lebanon European Union Gulf Hezbollah

The moment of truth is upon us—the time for decisive choices and a critical turning point for the country. Regardless of the outcome of the January 9 election, the election of Lebanon's 14th president presents a historic opportunity to claim the country’s rightful place in the emerging regional order. The new president will immediately face ...

The LBP's Exchange Rate Remains Fixed

This is Beirut, 08/01 21:15 - Reading : less than a minute

Banks Central Bank of Lebanon

The Lebanese Pound’s (LBP) exchange rate remains fixed, despite attempts by speculators to exploit the political atmosphere surrounding the presidential election, official sources told MTV Lebanon. Speculators are reportedly attempting to create the illusion of an improving LBP exchange rate and a declining dollar value, according to the ...

Bank Restructuring in the Council of Ministers: The Stakes of a Highly Controversial Project

This is Beirut, 07/01 14:25 - Reading : 1 minute(s)

Banks Central Bank of Lebanon Lebanese Forces

Lebanon is at a critical juncture in its economic crisis, with a Cabinet meeting scheduled for Tuesday afternoon, chaired by caretaker Prime Minister Najib Mikati, who plans to address several issues, notably a sensitive bill concerning the restructuring of banks. Quietly added to the agenda last Friday, this highly controversial draft has ...

Counterfeit $50 Bills: An Issue Nearing Resolution

Liliane Mokbel, 2024-12-18 20:00 - Reading : 2 minute(s)