Banque du Liban Sets New Rules on Commissions and Exchange Rate

The Lebanese Central Bank has established new rules to promote electronic payments and reduce reliance on cash. These include setting an exchange rate of 89,500 Lebanese pounds per dollar and decreasing fees on inactive accounts, although some banks continue to impose charges despite instructions from the Central Bank. Measures have also been introduced to prevent deductions from salary transfers and to facilitate the use of bank cards. Additionally, the adoption of electronic payments in the public sector has expanded, with tax revenues through transfers exceeding 95%. The goal is to establish a digital banking economy and diminish dependence on cash.

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