This Is Beirut, 2024-09-06 12:52 - Reading : 1 minute(s)
Riad Salameh’s press office reaffirmed the former Central Bank governor’s commitment to confidentiality and legal principles amid recent legal developments. Amid legal proceedings against former Central Bank Governor Riad Salameh, his press office issued a statement on Thursday, acknowledging the considerable public attention surrounding his ...
Maurice Matta, 2024-09-05 16:38 - Reading : 4 minute(s)
Wassim Mansouri, Acting Governor of the Central Bank of Lebanon (BDL), is meeting in London with officials from correspondent banks that interact with Lebanese banks. The goal is to address potential impacts of any negative decisions taken by the Financial Action Task Force (FATF) ahead of its crucial meeting to assess countries' compliance with ...
Liliane Mokbel, 2024-09-04 18:51 - Reading : 2 minute(s)
Bank loans are back, but the criteria for accessing them are stricter in terms of candidate eligibility, loan purpose, amount, and repayment period. Contrary to popular belief, these loans are not available due to fresh deposits in foreign currencies. Such deposits are tightly protected and regulated by a series of circulars issued by the ...
This Is Beirut, 2024-08-19 17:16 - Reading : 2 minute(s)
The Secretary General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, indicated that despite the significant efforts made by the Central Bank of Lebanon (BDL) to avoid including Lebanon on the gray list, and keep the banks clear from thorough monitoring of transfers, major challenges remain. He stressed that Lebanon is still under ...
Maurice Matta, 2024-08-14 09:43 - Reading : 4 minute(s)
Wassim Mansuri, the Acting Governor of Lebanon's Central Bank (BDL), is set to travel to Washington, D.C., in the first week of September, in an attempt to shield Lebanon from being placed on the Financial Action Task Force's (FATF) gray list, which monitors countries for financial crimes. His visit comes just days before a critical meeting where ...
2024-08-09 12:28 - Reading : 2 minute(s)
According to Lebanon’s consolidated commercial banks’ balance sheet, total assets declined annually by 10.4% to stand at $104.32B by June 2024 amid BDL’s adoption of a new exchange rate of LBP 89,500 per USD, effective 31/01/2024. On the assets side, currency and deposits with the Central Bank represented a high figure of 78.38% of total ...
Liliane Mokbel, 2024-07-30 12:00 - Reading : 2 minute(s)
According to Majd al-Masri, the president of the Syndicate of Money Changers in Lebanon, there is no actual shortage of dollar bills in the Lebanese market. He asserts that the delays in fulfilling customers' currency exchange requests are due to a logistical issue that will soon be resolved. Mr. Masri reassures that fears of a dollar shortage are ...
Maurice Matta, 2024-07-23 11:46 - Reading : 3 minute(s)
Since August 1, 2023, Lebanon’s Central Bank (BDL) liquid foreign currency reserves have steadily increased from $8.573 billion to $9.9 billion by June 2024, marking an average monthly growth of $120 million under the new leadership. This development occurs under Lebanon's Central Bank policy of not financing the government with currencies, ...
Nicolas Sbeih, 2024-07-11 09:45 - Reading : 5 minute(s)
After delving into the topic of banks, let's assess the current state of their regulatory body, Lebanon’s Central Bank (BDL). Overall, the outcome is somewhat meager. However, we will refrain from preempting conclusions before outlining the pros and cons of this interim governorship, now in its one-year tenure. We will partially rely on ...
Liliane Mokbel, 2024-07-07 17:47 - Reading : 2 minute(s)
The lack of funds in EDL's account at Lebanon's Central Bank (BDL) is delaying the unloading of essential Iraqi fuel oil for the country's power plants, which is currently stored on board the tanker Sky Rider off the coast of Lebanon. Consequently, the risk of Lebanon being plunged into total darkness starting Monday is significantly increasing. ...
Nicolas Sbeih, 2024-07-04 11:00 - Reading : 5 minute(s)
Few bankers get the chance to speak freely in the media, as this is frowned upon. They're seldom invited to debates, and if they are, it's only to be bombarded with a well-prepared barrage of acidic slurs. In fact, we have been hearing the same tirades for the past five years, with each critic thinking they've made a groundbreaking ...
This Is Beirut, 2024-06-27 14:11 - Reading : 1 minute(s)
Banque Du Liban (BDL) announced on Thursday that it would be extending the effects of Circulars 158 and 166. In a communique, the financial institution stated that the Central Council, which met on Wednesday, decided to extend the validity of Circulars 158 and 166 for one year, with the possibility of renewal, effective starting July 1, ...