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Mar 12

Oueidat Hears Testimonies of Banks Counsels, Owners, Chairmen

Oueidat Hears Testimonies of Banks Counsels, Owners, Chairmen

State Prosecutor Ghassan Oueidat on Tuesday started hearing the testimonies of the legal counsels, owners and chairmen of Lebanon’s banks over the controversial capital flight that coincided with the intensification of Lebanon's financial and monetary crisis.

The"...

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Mar 12

Banks pledge to court easing transfers and withdrawals

Banks pledge to court easing transfers and withdrawals

The banks have agreed with top judicial authorities to abide for one year by rules to deal with capital control measures.

The banks will allow depositors to withdraw in cash from their lira deposits up to LL25 million per month ($16,600 as per the official rate, $12,500 according"...

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Mar 11

Foreign currency reserves $22 billion at-hand effectively

Foreign currency reserves $22 billion at-hand effectively

The Minister of Finance, Ghazi Wazni, said that the foreign currency reserves at the Central Bank are $29 billion, of which the BDL has loaned $7 billion to banks for their external and internal obligations. This effectively brings at-hand reserves to $22 billion.

On the reforms"...

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Mar 11

Aoun Says Govt. Must Devise Plans for Debt and Restructuring of Banks

Aoun Says Govt. Must Devise Plans for Debt and Restructuring of Banks

President Michel Aoun on Tuesday said the government must devise a plan to restructure debt, plans to restructure banks and the central bank and others for financial and administrative reform as well as economic and social affairs.

He"...

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Mar 10

Lebanon dollar bonds tumble to new record lows

Lebanon dollar bonds tumble to new record lows

Lebanon’s dollar bonds tumbled to new record lows on Monday after the government declared on Saturday it could not pay forthcoming debt maturities.

Several issues fell more than 7 cents, , to as low as 17.5"...

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Mar 08

Dollar exchange premium officially capped at 30 percent

Dollar exchange premium officially capped at 30 percent

Money exchangers have been authorized to buy foreign currencies from their clients at a price that does not exceed 30 percent of the rate set by the Central Bank (BDL) for its dealings with the banks, according to a circular issued today by BDL.

BDL said that that this is an"...

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Mar 05

Kattar meets World Bank delegation over joint projects

Kattar meets World Bank delegation over joint projects

NNA - Environment Minister Damianos Kattar, welcomed in his office at the Ministry a delegation from the World Bank Group headed by Regional Director for the Middle East and North Africa Saroj Kumar Jah.


Discussions reportedly touched on the projects undertaken by the"...

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Mar 04

Report: Banks Say Ready to Cooperate on Rescheduling Debt

Report: Banks Say Ready to Cooperate on Rescheduling Debt

Lebanon’s banks on Tuesday expressed readiness to cooperate with the government in order to reschedule the state’s debt, a media report said.

“But they called on the government to negotiate with"...

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Mar 04

Report: BDL to Issue Circular Regulating Bank-Customer Relation

Report: BDL to Issue Circular Regulating Bank-Customer Relation

The final version of a “capital control” law prepared by a committee of legal and financial experts will reportedly be discussed during the cabinet meeting on Thursday, al-Joumhouria daily reported on Wednesday.

According"...

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Mar 03

Diab Says Eurobond Decision by Weekend, Salameh Reassures on Gold

Diab Says Eurobond Decision by Weekend, Salameh Reassures on Gold

Prime Minister Hassan Diab announced Monday that Lebanon’s final decision on whether or not to pay a $1.2 billion Eurobond debt that matures on March 9 will be taken Friday or Saturday.

“The decision"...

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