Central Bank of Lebanon

Maroun Khater: 'Defusing the Cheques Time Bomb'

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 ...

Al-Qard Al-Hassan: Is Hezbollah's "Bank" in Jeopardy? (1/2)

Maurice Matta, 09/10 08:30 - Reading : 6 minute(s)

Banks Central Bank of Lebanon

Intense daily Israeli airstrikes continue on the southern suburb of Beirut, southern villages, and the Beqaa Valley, while the Israeli side affirms that its war will persist until it eliminates Hezbollah's military and organizational targets. The aim is to inflict as much strategic damage as possible on Hezbollah, including its financial ...

ABL Meets with Mansouri

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 ...

$330M Injection Spurs Speculation: Beware of Fake Apps!

Maurice Matta, 02/10 11:54 - Reading : 3 minute(s)

Central Bank of Lebanon

  On October 1, 2024, a new directive from acting Lebanese Central Bank (BDL) Governor Wassim Mansouri, following a Central Council resolution on September 25, 2024, came into force. The order compels banks to triple cash withdrawal limits for beneficiaries of Circulars 158 and 166 throughout October. This exceptional, one-time decision ...

BDL Gold Reserves See $9.83 Billion Accounting Surge

Liliane Mokbel, 23/09 12:39 - Reading : 3 minute(s)

Central Bank of Lebanon

  The surge in gold prices has substantially benefited the Banque du Liban (BDL), resulting in a considerable increase in the value of its gold reserves. An auditing firm, appointed by BDL’s commissioner for Foreign Affairs with the coordination of the International Monetary Fund (IMF), conducted an inventory on November 24, 2022, which ...

FATF's Grey List: Transactions With Correspondent Banks Wont be Affected

Maurice Matta, 12/09 18:38 - Reading : 3 minute(s)

Central Bank of Lebanon

Wassim Mansouri, the Acting Governor of Lebanon's Central Bank (BDL) has concluded his meetings with correspondent banks in London, returning with reassurances that these institutions will continue to cooperate with Lebanon, regardless of the anticipated decision by the FATF (Financial Action Task Force) on October 24. However, the risk of Lebanon ...

Riad Salameh's Office Addresses Detention and Legal Principles

This Is Beirut, 06/09 12:52 - Reading : 1 minute(s)

Central Bank of Lebanon

Riad Salameh’s press office reaffirmed the former Central Bank governor’s commitment to confidentiality and legal principles amid recent legal developments. Amid legal proceedings against former Central Bank Governor Riad Salameh, his press office issued a statement on Thursday, acknowledging the considerable public attention surrounding his ...

Correspondent Banks: Transfers Safe Despite Potential Grey Listing

Maurice Matta, 05/09 16:38 - Reading : 4 minute(s)

Central Bank of Lebanon

Wassim Mansouri, Acting Governor of the Central Bank of Lebanon (BDL), is meeting in London with officials from correspondent banks that interact with Lebanese banks. The goal is to address potential impacts of any negative decisions taken by the Financial Action Task Force (FATF) ahead of its crucial meeting to assess countries' compliance with ...

Bank Loans Are Back…

Liliane Mokbel, 04/09 18:51 - Reading : 2 minute(s)

Central Bank of Lebanon

Bank loans are back, but the criteria for accessing them are stricter in terms of candidate eligibility, loan purpose, amount, and repayment period. Contrary to popular belief, these loans are not available due to fresh deposits in foreign currencies. Such deposits are tightly protected and regulated by a series of circulars issued by the ...

Khalaf: Significant Challenges Related to FATF

This Is Beirut, 19/08 17:16 - Reading : 2 minute(s)

ABL Central Bank of Lebanon

The Secretary General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, indicated that despite the significant efforts made by the Central Bank of Lebanon (BDL) to avoid including Lebanon on the gray list, and keep the banks clear from thorough monitoring of transfers, major challenges remain. He stressed that Lebanon is still under ...

What if Lebanon Is Placed on FATF’s Gray List?

Maurice Matta, 14/08 09:43 - Reading : 4 minute(s)

Central Bank of Lebanon

Wassim Mansuri, the Acting Governor of Lebanon's Central Bank (BDL), is set to travel to Washington, D.C., in the first week of September, in an attempt to shield Lebanon from being placed on the Financial Action Task Force's (FATF) gray list, which monitors countries for financial crimes. His visit comes just days before a critical meeting where ...

Lebanese Banks’ Total Assets Down Year on Year by 10.4% by June 2024

09/08 12:28 - Reading : 2 minute(s)

Central Bank of Lebanon

According to Lebanon’s consolidated commercial banks’ balance sheet, total assets declined annually by 10.4% to stand at $104.32B by June 2024 amid BDL’s adoption of a new exchange rate of LBP 89,500 per USD, effective 31/01/2024. On the assets side, currency and deposits with the Central Bank represented a high figure of 78.38% of total ...

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