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Lebanese Central Bank Promotes Digital Payments
The Central Bank of Lebanon announced measures to encourage electronic payments via debit and credit cards, aiming to reduce the use of paper currency. These efforts are in collaboration with the Ministries of Finance and Economy, as well as with Visa and Mastercard companies. The bank has reduced the fees charged on these cards and issued circulars to promote compliance and transparency, mandating that merchants accept card payments without imposing additional charges on consumers. These measures aim to promote the shift toward electronic payments and decrease reliance on cash in Lebanon.
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