Johnny Kortbawi, 11/04 16:00 - Reading : 3 minute(s)
Hezbollah central bank Lebanon
One of the biggest questions since the outbreak of the crisis in the fall of 2019 concerns the issue of determining responsibility for the losses that led to the default on payments, the suspension of external debt servicing and the freeze on deposits. In reality, the way one views the Lebanese economy is the main driver behind the different ...
This is Beirut, 10/04 14:15 - Reading : 5 minute(s)
Banks International Monetary Fund Central Bank
Lebanon’s Cabinet approved on Tuesday the statement of justification for the draft law on the reorganization of banks, with a follow-up session scheduled for Friday to finalize the text. The initiative is framed by two core principles the government says it upholds: safeguarding depositors’ rights and revitalizing the banking sector so it can ...
This is Beirut, 06/04 13:40 - Reading : less than a minute
Morgan Ortagus Economic reforms Central Bank
A meeting was held this morning between Minister of Finance Yassine Jaber, Minister of Economy Amer Bisat and Governor of the Central Bank Karim Souhaid with US envoy Morgan Ortagus. The discussion focused on the reform process launched by the Lebanese government. The officials presented the reform laws that have already been passed and are in ...
Maurice Matta, 27/03 20:35 - Reading : 5 minute(s)
Lebanon Central Bank Nawaf Salam Joseph Aoun Karim Souhaid
During a session held at Baabda Presidential Palace, chaired by President Joseph Aoun, the Cabinet appointed Karim Souhaid as Governor of the Lebanese Central Bank (BDL). The decision followed a ministerial vote, with Souhaid securing 17 votes out of 24 from the Lebanese government ministers. Despite strong opposition from Prime Minister Nawaf ...
This is Beirut, 27/03 17:15 - Reading : 2 minute(s)
Council of Ministers Central Bank Governor Karim Souhaid
The Council of Ministers appointed a new governor for Lebanon’s Central Bank on Thursday, more than a year and a half after the former governor, Riad Salameh, had retired. Karim Souhaid became the new head of the central bank, or BDL, following a vote in which he secured the support of 17 ministers out of 24. The Cabinet resorted to voting ...
Salam El Zaatari, 27/03 09:30 - Reading : 3 minute(s)
Lebanon Banks Central Bank Economy
Imagine a ship caught in a storm – battered, leaking and listing dangerously – while its crew argues not over how to navigate to safety, but whether to abandon ship entirely or simply repaint the deck. This is Lebanon today: a country sinking under the weight of a financial collapse, and yet, paralyzed by a bitter ideological struggle over ...
This is Beirut, 17/03 19:40 - Reading : less than a minute
Council of Ministers cabinet Central Bank
The Lebanese Council of Ministers convened for a marathon session on Monday to finalize the mechanism for administrative appointments, particularly for high-ranking positions. The meeting, which began at 11 AM at the Grand Serail and lasted over five hours, resulted in the approval of the mechanism in principle. However, its official announcement ...
This is Beirut, 06/03 17:30 - Reading : 1 minute(s)
Syria United Kingdom Central bank Sanctions
The UK government lifted sanctions imposed during the rule of the former Syrian leader Bashar al-Assad against 24 entities, including Syria's Central Bank, a statement said. The UK government said last month it planned to ease sanctions after the new Syrian government sought to persuade Western capitals that the rebels that toppled Assad after 14 ...
Bassam Abou Zeid, 05/03 11:25 - Reading : 2 minute(s)
Lebanon Central Bank Economy Hezbollah
Lebanon's inclusion on the Financial Action Task Force (FATF) gray list can largely be attributed to the lack of cooperation from Lebanese authorities in combating the financing of paramilitary groups, particularly Hezbollah, as well as other organizations like Hamas and the Islamic Jihad Movement. The failure to address this issue was largely ...
Maurice Matta, 21/02 11:00 - Reading : 3 minute(s)
In line with the Lebanese Central Bank (BDL) policy to raise withdrawal limits, and following consultations with President General Joseph Aoun, House Speaker Nabih Berri, Prime Minister Nawaf Salam and Finance Minister Yassine Jaber, BDL’s Central Council decided earlier this week to increase the ceiling under Circular No. 158 to $500 per month ...
Christiane Tager, 20/02 22:30 - Reading : 2 minute(s)
Lebanon Economy Banks Central Bank
In a highly anticipated move, Lebanon’s Central Bank (BDL) announced on Wednesday an increase in the withdrawal limits for Circulars 158 and 166, raising them to $500 and $250 per month, respectively, effective March 1. While the decision was welcomed by depositors, it has sparked concerns over its cost and potential impact on BDL’s reserves ...
This Is Beirut, 2023-12-05 20:37 - Reading : less than a minute
Lawyers for 11 Lebanese banks filed a memorandum on Tuesday, calling on the Ministry of Finance to compel the Lebanese State to immediately pay the Central Bank (BDL) the sums it owes. The banks are taking this action because they are BDL creditors and are wronged by its inability to demand repayment of the Lebanese State's debts. The State must ...