According to the Association of Lebanese Banks (ABL), the number and value of cleared checks declined by 1.08% and 0.20% annually to reach 5.05 million and $28.11B by May 2017, respectively.
The number and value of Foreign Currency denominated checks declined by 4.99% and 3.48% annually to 3.20 million and $19.31B by May 2017, respectively.
However, cleared checks denominated in Lebanese Pounds (LBP) increased both in volume and value; the number and value of LBP denominated checks grew by 6.49% and 7.82% year-on-year and amounted to 1.85 million and $8.80B by April 2017, respectively.
In the month of May alone, the number of cleared checks rose by 3.57% year-on-year to 1.09 million and their value edged up by 0.97% to $5.67B.
Value of Cleared Checks by May ($M)
Source: Association of Banks in Lebanon