$1 billion extra expected soon by the Central Bank. Potential for securing more funding. News from Lebanon

The Central Bank (BDL) is expected to soon obtain a deposit worth nearly $1 billion through one of the local banks, banking sources told the Central News Agency (Al Markazia).

BDL is using fresh inflows to boost its foreign currency reserves ….
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Central Bank’s gold reserves jump 26 percent in 12 months. Improvement driv en by surge in global prices. News from Lebanon

The value of the gold reserves held by the Central Bank (BDL) surged 26 percent to $13.9 billion by mid-August 2019 compared with a year earlier driven by a sharp rise in global gold prices, according to BDL data.

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Deposits are secure at Jammal Trust Bank. Liquidity is available to meet the needs of legitimate accounts. News from Lebanon

All lawful deposits with Jammal Trust Bank (JTB) remain secure until their maturity date and liquidity is available to meet the needs of the bank’s legitimate depositors, said Riad Salameh, Governor of the Central Bank (BDL).

Salameh’s statem….
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Passing the 2019 budget: a good first step, World Bank. Tax of three percent to be imposed on imports subject to VAT. News from Lebanon

Lebanon’s passing of the 2019 budget that aims to achieve a significant reduction in the country’s fiscal position is a good first step, said Saroj Kumar Jha, Regional Director at the World Bank.

“For a successful outcome, we urge proper impl….
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Tax declarations to be used as basis for obtaining loans. Central Bank’s de cision aims to fight fiscal evasion. News from Lebanon

Banks and financial institutions are allowed to lend or renew credit facilities to businesses only against duly audited financial statements that are identical to those submitted to the tax authorities, according to a new circular by the Central Ban….
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