This is Beirut - Central Bank of Lebanon

Farewell to Wads of Cash: Lebanon Unveils Banknotes of LBP 500,000 and 1 Million

Christiane Tager, 28/04 22:05 - Reading : 3 minute(s)

Banks Banque du Liban Central Bank of Lebanon

After nearly six years of economic and financial turmoil, Lebanon has taken a long-anticipated step by issuing higher-denomination banknotes. Last Thursday, the Lebanese Parliament approved a draft law presented by MP Ziad Hawat, after nearly two years of legislative wrangling, granting the Banque du Liban (BDL) permission to issue notes of LBP ...

Banks Association Calls for Balanced Restructuring Plan

This is Beirut, 28/04 12:45 - Reading : 2 minute(s)

ABL Banks Central Bank of Lebanon Fadi Khalaf

Fadi Khalaf, Secretary General of the Association of Banks in Lebanon (ABL), is calling for a realistic restructuring plan that balances financial reform with the protection of depositors' rights amid an unprecedented systemic crisis. In the editorial of the ABL's monthly report, titled “A Realistic Vision for Restructuring: Between Reform and ...

Souhaid Unveils Roadmap as Central Bank Governor

Liliane Mokbel, 04/04 15:40 - Reading : 2 minute(s)

Banks Central Bank of Lebanon Karim Souhaid Governor Depositors

The new governor highlighted several priorities: strengthening BDL’s governance, ensuring the return of deposits, restructuring the banking sector, and remaining open to all proposals aimed at resolving the banking system crisis. “Deposits are guaranteed, and their repayment must be managed through shared responsibility between the banks, BDL ...

Judges and BDL Governor Take Oath at Baabda Palace

This Is Beirut, 03/04 15:50 - Reading : 1 minute(s)

Banks Banque du Liban Central Bank of Lebanon Joseph Aoun

Three newly appointed judges and Lebanon’s new Central Bank (BDL) governor took their oaths of office on Thursday at Baabda Palace before President Joseph Aoun. Judges Judge Jamal al-Hajjar, Public Prosecutor at the Court of Cassation and Vice President of the Supreme Judicial Council, was sworn in alongside Judge Youssef al-Jamil, President ...

These Banknotes Aren’t So Green After All

Liliane Mokbel, 26/03 10:30 - Reading : 2 minute(s)

Banks Central Bank of Lebanon

The local market is flooded with US dollar bills of all denominations – $5, $10, $20, $50 and $100 – showing various signs of wear: stained, damaged, torn, creased, faded, and sometimes even patched with tape. But are these bills still valid? In a country where the economy is almost entirely dollarized, the high demand and intense ...

Wassim Mansouri Reflects on His Interim Leadership at the BDL

This is Beirut, 25/03 22:40 - Reading : 3 minute(s)

Banque du Liban Central Bank of Lebanon

As the Lebanese Cabinet under Nawaf Salam prepares to appoint a new governor for the Banque du Liban (BDL), assessments on Wassim Mansouri's interim tenure since August 2023 are mixed. Some view his actions as having preserved a degree of stability amidst unprecedented political and security crises, while others argue that the stability he has ...

The Public Appointment Mechanism: An Overview

This is Beirut, 17/03 20:15 - Reading : 3 minute(s)

Banks Central Bank of Lebanon

This is Beirut has reviewed a copy of the document outlining the mechanism set by the Council of Ministers for public appointments. According to Minister of Information Paul Morcos, this document is a preliminary draft that is expected to be finalized and approved by the Cabinet on Thursday. Here are the main points. The process is primarily ...

BDL’s Gold: An Untouchable Treasure or a Last Resort?

Liliane Mokbel, 05/03 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Gold Reserves Lebanon

Following the government’s policy statement and the president’s inaugural speech, it is clear that a new momentum is emerging to address the pending economic issues. Controversial proposals are emerging, notably the idea of using Lebanon's Central Bank gold reserves (BDL) to partially bridge the financial deficit. However, it is evident that ...

Ghada Aoun: Retirement Amid Judicial Controversies

Natasha Metni Torbey, 03/03 17:45 - Reading : 3 minute(s)

Ghada Aoun Free Patriotic Movement Central Bank of Lebanon Judiciary Lebanon

She pursued her judicial campaign until the very last day before the official end of her tenure within the judiciary. On March 1, 2024, the prosecutor at the Mount Lebanon Court of Appeal, Ghada Aoun, who had been dismissed from her duties in May 2023 by the Judiciary’s Disciplinary Council, retired. True to her nature, however, she did not ...

Money Laundering: Efforts to Remove Lebanon from the Grey List

Liliane Mokbel, 03/03 14:00 - Reading : 3 minute(s)

Central Bank of Lebanon International Monetary Fund Hezbollah FATF Terrorism Money laundering

The arrest this weekend of a passenger carrying $2.5 million in cash at Beirut’s International Airport marks an important step in the fight against the illegal transport of currency. This action underscores the Lebanese authorities' commitment to tightening controls and curbing such practices. Under the supervision of General Fadi Kfoury, the ...

Decline in Commercial Activity According to Beirut Traders Association – Fransabank Index

This is Beirut, 24/02 14:20 - Reading : 2 minute(s)

Banks Beirut International Airport Central Bank of Lebanon Index

The Beirut Traders Association – Fransabank Retail Trade Index for the fourth quarter of 2024 (Q4-2024) recorded a value of 31.37, indicating a modest recovery in commercial activity, accompanied by cautious optimism about short-term improvements. In contrast, the index for the third quarter of 2024 had reached 35.06, reflecting a continued ...

Figure of the Week: 113 Vacant Senior Positions in Lebanon’s Administration

Liliane Mokbel, 22/02 12:00 - Reading : less than a minute

Central Bank of Lebanon Public Administration Positions

113 senior positions within Lebanon's central administration are currently vacant and filled on an interim basis, according to sources close to the Grand Serail. This number is expected to increase by the end of 2025. Among the key positions to be filled are the Governor of the Central Bank (BDL), the Commander-in-Chief of the Army, and the ...

Central Bank of Lebanon