24 Hrs
Source:
الكتائب اللبنانية
Lebanon Regulates Exchange Offices and Its Black Market
Reports have confirmed that the regulation of money exchange shops in Lebanon aims to reduce the informal market by issuing a circular from Banque du Liban (Banque Lebanon) imposing new conditions on licensed institutions. These conditions include increasing capital requirements and implementing strict oversight measures to combat money laundering and terrorism financing. Despite these tighter regulations, sources indicate that many licensed money changers are still able to comply with the new standards, and it is not expected to cause a significant contraction of the official market. As for the informal exchange market, which accounted for over 90% two years ago, it has now decreased to about 50%. Nonetheless, it still operates outside the legal framework due to ongoing activities of groups communicating via apps like WhatsApp and Telegram, which makes comprehensive monitoring difficult.
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