This Is Beirut, 2024-02-16 16:13 - Reading : 2 minute(s)
Caretaker Prime Minister Najib Mikati acknowledged for the first time that "depositors' funds have evaporated" and that "the state is 100% responsible for (evaporated) bank deposits." During a meeting with economic journalists, reported by An-Nahar’s Sabine Oueiss, Mikati emphasized that the state's responsibility regarding these deposits "is ...
Liliane Mokbel, 2024-02-14 10:31 - Reading : 3 minute(s)
On Tuesday, the administrative court ruled on the dispute between the Association of Banks in Lebanon (ABL) and the State. The Council of State invalidated the government's plan to abolish bank reserves at the Banque du Liban (BDL). A major blow, which calls into question the validity of the banking resolution proposed by the government. On ...
Maurice Matta, 2024-02-13 22:59 - Reading : 6 minute(s)
In its final "constitutional" session before transitioning into a caretaker government, on May 20, 2022, Najib Mikati’s Cabinet endorsed a plan for financial and economic recovery. It included a document titled "Strategy for Financial Sector Revitalization," which, in its third clause, outlined the cancelation of a significant portion of the ...
This Is Beirut, 2024-02-13 21:31 - Reading : 6 minute(s)
On Tuesday, the State Council overturned a government decision, part of its “recovery strategy,” which would have destroyed the banking sector and deprived depositors of their funds. The State Council annulled on Tuesday a decision taken by the Council of Ministers in May 2022 as part of its financial recovery strategy. This decision would ...
Liliane Mokbel, 2024-02-05 20:58 - Reading : 2 minute(s)
The Central Bank's (BDL) first deputy governor Wassim Mansouri issued on Saturday Circular 166 on exceptional measures for the gradual repayment of bank deposits made in foreign currency after the date of 10/31/2019. Mansouri specified that Circular 166 was adopted after he had obtained the opinion of the Association of Banks in Lebanon (ABL), ...
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 ...
This Is Beirut, 2024-01-23 18:58 - Reading : less than a minute
The Association of Banks in Lebanon (ABL) is working to guarantee depositors' rights in the short term while awaiting definitive solutions, it said in a statement issued on Tuesday, following a meeting between its board of directors and Banque du Liban's Interim Governor Wassim Mansouri and deputy governors. They discussed the best possible ...
This Is Beirut, 2024-01-16 15:44 - Reading : 3 minute(s)
The Association of Banks in Lebanon (ABL) published its economic and financial report for November 2023, in which it reviews financial, banking, economic and monetary developments. The report shows an increase in private sector deposits in Lebanese pounds with banks to 55.329 billion at the end of November 2023, compared with 50.051 billion at ...