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Banque du Liban

Banque du Liban News

Korek Telecoms

Korek Telecom fights $1.65 billion award to partners

A Dubai court will next month hear whether it should scrap a $1.65 billion award against an Iraqi telecom operator and its politically connected top shareholder. The long-running dispute underscores the risk that foreign investors face in Iraq, a country devastated by decades of conflict and sanctions and which is among the world’s most corrupt […]

Lebanon lollar fees commission

Lebanon’s new bank rules offer ‘lollar’ accounts respite

The Banque du Liban (BDL), Lebanon’s central bank, has issued a circular limiting fees and commissions that commercial banks can impose on so-called “lollar” accounts. Circular No. 679 prohibits the imposition of commissions that were established after October 31, 2019 on dollar deposits made before September 3, 2019. It also obliges banks to publish their […]

A currency exchange in Sidon, Lebanon. The country is replacing its old currency exchange platform with a new one run through Bloomberg

Lebanon to ditch Sayrafa currency exchange platform

Lebanon’s cabinet has approved the replacement of the controversial Sayrafa currency exchange platform with a new one run through the Bloomberg trading system.  Caretaker Information Minister Ziad Makari gave no indication of a time frame for the replacement when he spoke to reporters this week, saying only that the new platform would come into effect […]