Passersby in front of the shattered window of a bank in the coastal city of Tripoli, northern Lebanon, on Jan. 22, 2020. (Credit: AFP archives)
More than six years after the financial system’s collapse, the banking sector today plays only a limited role in granting new loans. Housing loans have almost disappeared, except for a few dozen cases financed by the Banque de l’Habitat. Consumer lending remains marginal, and companies — especially SMEs — continue to face major difficulties in accessing financing. Some context BDL launches new forensic audit to fill gaps in first one While some banks have resumed lending activity, it remains highly selective: High incomes, substantial collateral, and low-risk profiles are required. Dollar-denominated interest rates reach 12 to 14% in an economy already marked by a chronic investment deficit.In this context, the Banque du Liban (BDL), Lebanon’s central bank, adopted, on May 21, three decisions that could mark a quiet but major...
More than six years after the financial system’s collapse, the banking sector today plays only a limited role in granting new loans. Housing loans have almost disappeared, except for a few dozen cases financed by the Banque de l’Habitat. Consumer lending remains marginal, and companies — especially SMEs — continue to face major difficulties in accessing financing. Some context BDL launches new forensic audit to fill gaps in first one While some banks have resumed lending activity, it remains highly selective: High incomes, substantial collateral, and low-risk profiles are required. Dollar-denominated interest rates reach 12 to 14% in an economy already marked by a chronic investment deficit.In this context, the Banque du Liban (BDL), Lebanon’s central bank, adopted, on May 21, three decisions that could mark a quiet but...
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