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SUBMIT NEWS

~~Finance~~

Record decrease in
bank deposits and loans
Demand deposits double
on transfers from long-term accounts

Deposit tax proposed
by Ministry of Finance
2021 draft budget mimics last year’s. Slew of tax breaks

Solidere sales
hit $393 million
Bank debt now fully repaid

BLOM agrees
to sell Egypt unit
Deal valued at
around $427 million

Invoices and VAT fees
must be issued only in lira
Ministry of Finance warns
of fines and legal action

The lira will be floated
pending program with IMF
Riad Salameh:The peg is over

Foreign currency operations
to be booked at market rate
There is no official reference for actual exchange value

Bank Audi absorbs private
and investment subsidiaries
Merger eliminates duplication
and reduces operating expenses

Poverty and Covid needs
earmarked for $246 million
World Bank loan to benefit 150,000 families

Banking secrecy
lifted for one year
Parliament’s decision allows forensic
audit of Central Bank and ministries

Housing Bank
resumes lending
$165 million allocated at
LL3,900 for 3,000 loans in lira

LL100,000 bill in honor of
Greater Lebanon centennial
Currency in circulation
jumps 1.5 times in first ten months

Alvarez & Marsal ends
forensic audit contract
Cites inability to obtain required
documents from the Central Bank

Raya Haffar El Hassan
Bankmed Chairperson
Michel Accad confirmed as CEO

Ministry of Finance paid
all hospital dues in arrears
Hospital owners: $260 million
outstanding didn't reach ministry

$10 billion are gone
from foreign reserves
Decline was faster than projected
and will lead to ending the peg to the dollar

Interest-free loans
given to the least needy
Ten percent of notes due
got rescheduling approval

Bank Audi to sell Jordan,
Iraq units to Capital Bank
Talks on selling Egyptian business
to restart with First Abu Dhabi Bank

Business bodies
oppose fund return ruling
First public clash between
monetary authority and private sector

Voluntary ‘Bail-in’
regulated by the Central Bank
Listing on stock exchange
mandatory introduction of perpetual bonds

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