Liliane Mokbel, 02/06 13:19 - Reading : 4 minute(s)
Card payments are no longer the only and main consumers’ option. Bank cards are steadily giving way to alternative payment methods. This is a global trend, and Lebanon is no exception; for instance, electronic wallets are gaining significant popularity. The range of options keeps growing. In the coming years, there will be less cash and fewer ...
Maurice Matta, 20/05 12:20 - Reading : 6 minute(s)
The official exchange rate of 89,500 Lebanese pounds to one US dollar is recognized by the Lebanese Central Bank (BDL) as the unified exchange rate, which banks are required to use when drafting their financial statements and periodic reports. This rate aligns with the parallel market exchange rate. BDL’s Acting Governor, Wassim Mansouri, keeps ...
10/05 15:45 - Reading : less than a minute
Vice-Governor and acting Governor of the Central Bank (BDL) Wassim Mansouri declared Friday that the BDL’s foreign currency reserves had increased by $1.1 billion. Speaking at a forum held at the Arab University of Beirut, Mansouri also emphasized that “the BDL cooperates with the government to maintain monetary stability in the country, but ...
07/05 21:49 - Reading : 3 minute(s)
The Central Bank of Lebanon (BDL) is actively working on launching the new official platform that will provide the exchange rate of the dollar against the Lebanese pound in the market. This initiative, developed in partnership with Bloomberg, seeks not only to replace Sayrafa but also to ensure transparency in the exchange rate. Originally ...
This Is Beirut, 30/04 12:13 - Reading : less than a minute
Caretaker Minister of Energy Walid Fayad emphasized in a recent interview with the LBCI television channel that progress in the electricity sector plan is positive, but lamented its slow pace. He underscored the lack of attention from politicians and decision-makers towards the energy sector, stressing its critical role in the economy. “The ...
This Is Beirut, 18/04 20:18 - Reading : 2 minute(s)
The Central Bank of Lebanon (BDL) is seeking to encourage financial inclusion once again in order to reduce the cash economy in the Lebanese market, which is contrary to international anti-money laundering standards. In a statement issued on Thursday, the Central Bank of Lebanon (BDL) said it had worked with international issuers and managers of ...
This Is Beirut, 18/04 15:42 - Reading : 2 minute(s)
The interim governor of the Central Bank of Lebanon (BDL), Wassim Mansouri, disclosed that the bank is studying a new proposal regarding the categorization of the depositors’ funds, which have been frozen since the onset of the 2019 rampant economic crisis. He estimated the banks' liabilities at nearly $88 billion. In an interview with Al-Sharq ...
15/04 17:37 - Reading : less than a minute
The Ministry of Finance confirmed in a statement on Monday that it had transferred to Lebanon’s Central Bank (BDL) the differences in civil servants' salaries (the retroactive effect) for last February, in line with the salary increases approved by the government last month. Those concerned will be able to withdraw the amounts from their banks ...
This Is Beirut, 12/04 22:01 - Reading : 2 minute(s)
In a statement released on Friday, the Central Bank of Lebanon sounded the alarm, calling on Parliament to act by approving reform laws to rescue the financial sector. The Central Bank of Lebanon (BDL) emphasized that the delay in enacting reform laws weakens the financial position of the Lebanese State, the Central Bank of Lebanon, and the ...
This Is Beirut, 03/04 17:05 - Reading : less than a minute
The Ministry of Finance announced, in a press release on Wednesday, that it had transferred all civil servants' salaries and retirees' pensions to the Banque du Liban (BDL). Those concerned will be able to collect them from private banks starting Friday morning, April 5. Of note, the Ministry transferred the salaries of military personnel in the ...
Liliane Mokbel, 18/03 18:50 - Reading : 3 minute(s)
For nearly one year now, the Central Bank of Lebanon (BDL) has withdrawn around 32% of the Lebanese pound's circulating supply from the market. This action has successfully stabilized the black-market dollar exchange rate at approximately 89,500 Lebanese pounds to the dollar, an action that has also triggered a simultaneous increase in interbank ...
Nicolas Sbeih, 13/03 20:36 - Reading : 5 minute(s)
Yes, indeed, we also have our sacred cows, those perpetual taboos that must never be tampered with, those economic incests of the sphere of power. To illustrate this sacred herd, here is a small sample that is far from exhaustive. 1- The Gold. Every so often, we proudly boast that the Central Bank (BDL) holds 288 tons of it (currently worth $17 ...