According to the Association of Lebanese Banks (ABL), the value of cleared checks reached $49.65 Billion (B) by September 2018, down by 1.25% compared to the same period last year. Likewise, the total number of cleared checks fell by 2.12% year-on-year to reach 8.86M by September 2018.
In Details, the number and value of cleared checks in foreign currencies declined by 4.96% and 3.27% to reach 5.41M and $33.48B respectively by September 2018 noting that the share of cleared checks denominated in foreign currencies declined from 62.83% by Q3 2017 to 61.01% by Q3 2018. However, the number and value of cleared checks in Lebanese Pounds increased by 2.67% and 3.21% year-on-year to reach 3.46M and $16.17B, respectively.
As for the number of returned checks it recorded an annual rise from 219,823 by September 2017 to 201,004 by September 2018. Accordingly, the share of returned checks in the total number of cleared checks rose from 1.88% by September 2017 to 2.27% by September 2018.
It is worth mentioning that the value of cleared checks reached $5.54B in September 2018, up by 23.50% from $4.49B IN September 2017. Similarly, the total number of cleared checks rose by 15.85% to reach 974,919 in September 2018.
Value of Cleared Checks by September (USD in $M)
Source: Association of Banks in Lebanon