This Is Beirut, 2024-02-03 14:18 - Reading : 1 minute(s)
The acting governor of the Central Bank of Lebanon (BDL), Wassim Mansouri, communicated on Saturday the amendments made to Circular 151 through a new circular, Circular 166. Following Friday's meeting of the BDL Central Council, Mansouri announced two decisions concerning the repayment of foreign currency deposits and the conversion of foreign ...
2024-02-01 23:38 - Reading : 2 minute(s)
Twenty-four hours after the Association of Oil Importing Companies declared the suspension of fuel deliveries in protest against the 10% exceptional tax levied on businesses benefiting from the subsidy policy introduced by the state in 2020 and 2021, a solution seems to be looming on the horizon. The president of the association, Maroun Chammas, ...
2024-02-01 22:32 - Reading : 2 minute(s)
Wassim Mansouri, the Central Bank's (BDL) Acting Governor, will set off to Riyadh on Monday upon a special invitation to participate in a conference on regional financial stability. But before he leaves, he is scheduled to finalize, on Friday, the details of a new directive with BDL’s Central Council. This directive allows depositors who were ...
Liliane Mokbel, 2024-02-01 19:36 - Reading : 3 minute(s)
The destiny of the Finance Law remains uncertain. Every budgetary article voted by Parliament is subject to invalidation appeal before the Constitutional Council once the text is promulgated and published in the Official Gazette. Before the final version of the 2024 budget was released, an outcry erupted over an article that was introduced during ...
Liliane Mokbel, 2024-01-30 21:33 - Reading : 3 minute(s)
The issue of the bank dollar exchange rate remains unresolved. Parliament withdrew from this task during the review of the 2024 Budget, while the Central Bank of Lebanon (BDL) is taking its time to decide on the matter. The acting governor of the Central Bank of Lebanon, Wassim Mansouri, is expected to arrive in Beirut from Paris on Tuesday ...
2024-01-27 21:21 - Reading : 2 minute(s)
Lawmakers deflect responsibility by shifting the decision on the dollar exchange rate to the Central Bank of Lebanon (BDL), a move criticized by economic experts as an evasion of addressing pressing financial issues, notably the plight of depositors. This reflects a persisting corrupt climate apparent in various numbers reported by the Central ...
2024-01-23 21:05 - Reading : 2 minute(s)
Acting Governor of the Central Bank, Wassim Mansouri, has agreed with the Association of Banks in Lebanon (ABL) to discuss the replacement of Circular 151. This would enable beneficiaries to receive a monthly cash payment of $150. Yet, based on the information available from Tuesday's meeting at Lebanon’s Central Bank (BDL), perspectives between ...
Liliane Mokbel, 2024-01-22 07:30 - Reading : 3 minute(s)
The statements of Caretaker Prime Minister Najib Mikati, made on the sidelines of the Davos forum, about the impeding recovery of bank deposits have keyed up the online community, triggered various interpretations, and stirred up confusion among the public. Caretaker PM Najib Mikati announced from Davos that "a clear program detailing how ...
Liliane Mokbel, 2024-01-18 22:58 - Reading : 2 minute(s)
What once was a social safety net, represented by the National Social Security Fund (NSSF), is no longer. Despite the good will of NSSF Director-General Mohammad Karaki, the calculation and withdrawal process of end-of-service indemnities continue to pose a complicated contention. Unfortunately, it is the employees, who are the most vulnerable, ...
This Is Beirut, 2024-01-05 21:18 - Reading : less than a minute
Wassim Mansouri, Acting Governor of the Central Bank (BDL), said on Friday that banking relations with the United Arab Emirates (UAE) would be maintained in their current form. "There have been no modifications or changes," he said in a statement issued in response to rumors that circulated, on Thursday, in some media and on social networks that ...
Liliane Mokbel, 2024-01-05 12:47 - Reading : 4 minute(s)
Lebanon’s Central Bank (BDL) announced in a statement on Thursday the suspension of "seigniorage," or procedure of assessing the profit or loss made on producing a currency, and the commencement of collaborative efforts with the International Monetary Fund (IMF) to review its Safeguards Assessment methodology. When approached by This is Beirut ...
Liliane Mokbel, 2023-12-20 18:39 - Reading : 3 minute(s)
Without prior notice, Lebanon’s Central Bank (BDL) announced on Monday evening (December 18), by means of a simple statement, a new rate for the dollar on its Sayrafa exchange platform. It set the rate at 89,500 Lebanese pounds (LBP) to the dollar, marking an increase of LBP 4,000 from the rate that has been in effect since last ...