Lebanon’s central bank won’t buy dollars on Sayrafa platform from Oct. 25 Lebanon’s central bank won’t buy dollars on Sayrafa platform from Oct. 25
Lebanon’s central bank will halt purchases of dollars on its Sayrafa platform starting on Oct. 25 until further notice, a statement from the central bank said on Sunday.The statement said the bank ...
Middle East 23 October ,2022
Lebanon MPs pass second attempt at new banking secrecy law Lebanon MPs pass second attempt at new banking secrecy law
Lebanon’s parliament on Thursday passed another round of amendments to a banking secrecy law after the International Monetary Fund said a previous draft retained key deficiencies.The IMF has laid out ...
Middle East 18 October ,2022
Lebanese pound hits new record low against the US dollar Lebanese pound hits new record low against the US dollar
The Lebanese pound’s market value hit a record low against the dollar Monday, as the cash-strapped country plunges further into financial and political turmoil three years after its economy ...
Economy 17 October ,2022
Lebanese banks close again after depositor hold-ups, bankers say Lebanese banks close again after depositor hold-ups, bankers say
Lebanese banks have unanimously decided to close their doors to clients indefinitely after a series of holdups by depositors seeking funds frozen in the banking system because of the country’s ...
Middle East 07 October ,2022
Lebanese parties voice surprise at FX move, government seen backtracking Lebanese parties voice surprise at FX move, government seen backtracking
Leading Lebanese politicians said on Thursday they were blindsided by a plan to slash the official exchange rate, with the Iran-backed Hezbollah group demanding a review of the decision and the ...
Middle East 29 September ,2022
‘I need my salary’: Anger as Lebanese banks reopen ‘I need my salary’: Anger as Lebanese banks reopen
Depositors scuffled and long lines formed at Lebanese banks Monday as they partially reopened after a week-long closure following a slew of heists by customers desperate to access their money.But most ...
Middle East 26 September ,2022
IMF to send mission to Lebanon next week to discuss slow reform progress IMF to send mission to Lebanon next week to discuss slow reform progress
The International Monetary Fund said on Thursday that a staff mission will visit Lebanon next week to discuss ways to “speed up” implementation of agreed reforms required for an IMF loan program amid ...
Middle East 15 September ,2022
IMF may be unsatisfied with Lebanon 2022 budget: Economy minister Salam IMF may be unsatisfied with Lebanon 2022 budget: Economy minister Salam
Lebanon’s 2022 budget may fall short of International Monetary Fund requirements for a bailout program, a member of Lebanon’s IMF negotiations team told Reuters on Thursday as parliament holds ...
Middle East 15 September ,2022
New initiative to secure livelihoods of Lebanon’s zaatar producers launched New initiative to secure livelihoods of Lebanon’s zaatar producers launched
Lebanon would not be the same without the scent of zaatar in the morning air, wafting from manouche bakeries for a quick breakfast or mixed into a paste, perpetually on the dining table for a quick ...
Features 10 August ,2022
Lebanon parliament passes amendments to banking secrecy law: Report Lebanon parliament passes amendments to banking secrecy law: Report
Lebanon’s parliament on Tuesday passed long-awaited amendments to a banking secrecy law, according to a Reuters witness, in the first step towards reforms required by the International Monetary Fund ...
Middle East 26 July ,2022
Qatar provides Lebanon’s army with $60 million: State news agency Qatar provides Lebanon’s army with $60 million: State news agency
Energy-rich Qatar has given Lebanon’s cash-strapped armed forces $60 million, the foreign ministry in Doha announced Thursday.“The announcement comes within the framework of the State of Qatar’s firm ...
Middle East 30 June ,2022
Some Lebanon banks disagree with ABL letter objecting IMF plan Some Lebanon banks disagree with ABL letter objecting IMF plan
Lebanon’s Bank Audi and al-Mawarid Bank said on Wednesday they disagreed with a letter sent on behalf of the country’s banking association that branded a staff-level agreement (SLA) with the ...
Middle East 22 June ,2022
Lebanon banks on summer tourism windfall: Tourism minister Lebanon banks on summer tourism windfall: Tourism minister
Lebanon’s ailing economy should receive a welcome injection of more than $3 billion thanks to a rebound in tourist arrivals over the summer, the tourism minister said Wednesday.Lebanon defaulted on ...
Middle East 22 June ,2022
Lebanon banks association says it doesn’t oppose IMF deal Lebanon banks association says it doesn’t oppose IMF deal
The Lebanese banks association ABL said on Wednesday it does not oppose an April draft deal between the government and the IMF, and sees an agreement with the fund as one of the main ways to exit ...
Middle East 22 June ,2022
Lebanon prosecutor requests charges against central bank chief  Lebanon prosecutor requests charges against central bank chief 
A Lebanese prosecutor probing central bank chief Riad Salameh on suspicion of financial misconduct has requested charges be issued against him based on preliminary investigation findings, a court ...
Middle East 09 June ,2022
Lebanon parliament re-elects Nabih Berri as speaker Lebanon parliament re-elects Nabih Berri as speaker
Lebanon’s new legislature narrowly elected veteran politician Nabih Berri for a seventh term as speaker of parliament in its first session on Tuesday.Berri, 84, won 65 votes in the 128-member ...
Middle East 31 May ,2022
Lebanese pound trades at record low of 35,000 to the dollar Lebanese pound trades at record low of 35,000 to the dollar
Lebanon's pound traded at a record low of more than 35,000 to the dollar on Thursday, according to currency exchange platforms and traders, as divisions within a newly-elected parliament fuel concerns ...
Energy 26 May ,2022
Lebanon’s bank association rejects government recovery plan Lebanon’s bank association rejects government recovery plan
The Association of Banks in Lebanon (ABL) on Tuesday rejected a financial recovery roadmap passed last week by the country’s cabinet, saying it would “place the full losses” of the country’s economic ...
Middle East 24 May ,2022
Lebanese campaign protests Lollars as currency of corruption Lebanese campaign protests Lollars as currency of corruption
On a freshly printed 100 Lollar note, a painting of the Beirut Port silos exploding is detailed, with “The Currency of Corruption” emblazoned in the corner. At a glance, one might mistake the bill for ...
Features 18 May ,2022
Lebanon cenbank says to continue selling dollars at Sayrafa rate ‘without amendment’ Lebanon cenbank says to continue selling dollars at Sayrafa rate ‘without amendment’
Lebanon’s central bank will continue to allow commercial banks to purchase US dollars on its Sayrafa platform rate, it said on Tuesday, in response to rumors it had halted purchases following the ...
Middle East 17 May ,2022
Lebanon to complete cenbank FX audit, an IMF condition, by June: Deputy PM Lebanon to complete cenbank FX audit, an IMF condition, by June: Deputy PM
Lebanon will complete the first in a set of conditions for an IMF bailout, an audit of the central bank’s forex position, by June, the country’s deputy prime minister said during a meeting with the ...
Economy 11 May ,2022
Lebanese PM expects progress in talks with IMF over meltdown Lebanese PM expects progress in talks with IMF over meltdown
Talks between the Lebanese government and the International Monetary Fund over an economic recovery plan should make progress in the next two weeks, Prime Minister Najib Mikati said Saturday.Speaking ...
Economy 26 March ,2022
Lebanon banks to sell dollars at approved rate starting March 28: Central bank Lebanon banks to sell dollars at approved rate starting March 28: Central bank
Lebanese banks will be allowed to sell the local currency for US dollars and vice-versa starting March 28, on the basis of the rate determined by the central bank’s "Sayrafa" platform, the central ...
Banking & Finance 25 March ,2022
Lebanon’s Fransabank shuts all branches after judicial order   Lebanon’s Fransabank shuts all branches after judicial order  
Lebanon’s Fransabank closed all of its branches on Wednesday after a judicial order and said it would be unable to meet client demands, including paying public sector salaries.Fransabank, one of ...
Banking & Finance 16 March ,2022
Lebanon central bank denies halting operations on exchange platform  Lebanon central bank denies halting operations on exchange platform 
Lebanon’s central bank on Wednesday denied its official foreign exchange platform had halted operations, after the value of the country’s pound sank on the parallel market.The bank said it was ...
Middle East 09 March ,2022