This is Beirut, 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 ...
Maurice Matta, 20/03 21:35 - Reading : 3 minute(s)
Lebanon Banque du Liban Governor Appointments
The Cabinet approved on Thursday the administrative appointment mechanism, reaffirming ministers’ role in the process. Under the agreed framework, the relevant minister will propose a list of hors-cadre candidates, while the final decision rests with the Cabinet. Meanwhile, the appointment of a new Bank of Lebanon (BDL) governor remains ...
Maurice Matta, 13/03 22:40 - Reading : 3 minute(s)
International Monetary Fund Banks Joseph Aoun Banque du Liban Washington
Finance Minister Yassine Jaber made reassuring remarks regarding negotiations with the International Monetary Fund (IMF) following an extensive meeting held at the Ministry of Finance with the IMF mission. During the meeting, Jaber affirmed that the elimination or partial deduction of bank deposits is a sovereign and national decision, ...
This is Beirut, 21/02 15:30 - Reading : 2 minute(s)
Lebanon Iran Beirut Banque du Liban Custom fees
Finance Minister Yassine Jaber assured that there will be no increase in customs fees or taxes, while emphasizing that the state will ensure the collection of all its dues. Jaber emphasized that one of the prerequisites for an agreement with the International Monetary Fund (IMF) is combating customs fraud. He added that the state must strengthen ...
This is Beirut, 19/02 15:50 - Reading : less than a minute
Banks Banque du Liban Central Bank of Lebanon
The Central Board of Lebanon's Central Bank (BDL) has approved an increase in withdrawal limits under circulars 158 and 166, allowing depositors to withdraw $500 and $250 per month respectively. The decision will take effect on March 1, 2025. In a statement issued Wednesday, the BDL explained that the decision aligns with its ongoing policy ...
Liliane Mokbel, 08/02 12:00 - Reading : less than a minute
lebanon Banque du Liban electricity
Electricity production increased by 36.7% in the first half of 2024 compared to the same period in 2023, according to data from the Banque du Liban. It reached 2.239 million kilowatt-hours (kWh), up from 1.638 million kWh during the same period last year. This growth continues the 41.7% increase seen between 2022 and 2023, when total production ...
Maurice Matta, 06/02 10:55 - Reading : 3 minute(s)
Banks Banque du Liban Central Bank of Lebanon
As the political situation remains uncertain, especially regarding the formation of the government, the Central Bank of Lebanon decided at the end of January to suspend its previous policy that required banks to make multiple monthly payments to beneficiaries of Circulars 158 and 166. This decision restores withdrawal limits to pre-crisis ...
This is Beirut, 10/01 11:00 - Reading : 1 minute(s)
Banque du Liban Joseph Aoun Hezbollah Lebanese Pound
The surge in demand for the Lebanese pound continues, prompting the Central Bank (BDL) to bolster its reserves by $120 million within a mere two-day span. With General Joseph Aoun's election as President of the Republic, the demand for the pound has surged, reaching even higher levels for the second consecutive day. In response, BDL injected the ...
Liliane Mokbel, 2024-11-30 15:05 - Reading : 3 minute(s)
Lebanon’s Central Bank (BDL) is easing the pressure to appease the foreign exchange market, amid a “neither war nor peace” climate that only heightens its volatility. The decision by the BDL’s Central Council, dated November 26, 2024, reflects clear intent to implement a “flexible monetary policy” even though this approach might ...
This is Beirut, 2024-11-28 20:55 - Reading : less than a minute
On Thursday, the Ministry of Finance announced that, after completing the transfer procedures for retirees' pensions and salaries for all military personnel, members of these groups will be able to withdraw their salaries from their private banks starting tomorrow, Friday, November 29. As for the salaries of other public employees, transfers will ...
This is Beirut, 2024-11-28 16:25 - Reading : 2 minute(s)
Banque du Liban Lebanese Banks
According to the consolidated balance sheet of Lebanese commercial banks, total assets contracted by 8.06% year-on-year (YoY), dropping to $104.56 billion in August 2024. This decline followed Banque du Liban’s (BDL) adoption of a new official exchange rate of LBP 89,500 per USD, effective January 31, 2024. Currency and deposits with BDL ...
This is Beirut, 2024-10-30 12:15 - Reading : less than a minute
Banks Banque du Liban Central Bank of Lebanon
In the coming 48 hours, beneficiaries of Banque du Liban (BDL) Circulars 158 and 166, related to exceptional withdrawals of fresh dollars, will receive updates regarding potential amendments. A source close to the Central Bank has indicated that the number of monthly payments available to eligible depositors will be reduced to two, instead of the ...