According to the Association of Lebanese Banks (ABL), the number and value of cleared checks contracted by 1.88% and 0.41% year-on-year (y-o-y) to stand at 6.05 million (M) and $33.67 billion (B), respectively, by June 2017.
The number and value of foreign currency-denominated checks slipped by 5.8% and 3.7% annually to 3.83M and $23.19B, respectively, by June 2017.
Nonetheless, cleared checks denominated in Lebanese Pounds (LBP) increased both in volume and value. The number and value of LBP denominated checks grew by 5.69% and 7.72% y-o-y and amounted to 2.22M and $10.48B, respectively, by June 2017.
On a monthly basis, the number of cleared checks declined by 5.71% y-o-y to 999,057 and their value slipped by 1.45% to $5.56B in June 2017.
Value of Cleared Checks by June ($M)
Source: Association of Banks in Lebanon