According to the Association of Lebanese Banks (ABL), the value of cleared checks recorded a yearly decrease by 1.22% to reach $55.73 Billion (B) by October 2018. Likewise, the total number of cleared checks fell by 2.03% year-on-year to stand at 9.92M by October 2018.
In Details, the number and value of cleared checks in foreign currencies declined by 5.09% and 3.25% to reach 6.03M and $37.49B respectively by October 2018 noting that the share of cleared checks denominated in foreign currencies witnessed a yearly downtick by 3.12% to 60.79% by October 2018. However, the number and value of cleared checks in Lebanese Pounds increased by 3.12% and 3.24% year-on-year to reach 3.89M and $18.23B, respectively.
As for the number of returned checks it recorded an annual rise by 20.02% from 190,514 by October 2017 to 228,661 by October 2018. Accordingly, the share of returned checks in the total number of cleared checks rose from 1.88% by October 2017 to 2.30% by October 2018.
It is worth mentioning that the value of cleared checks reached $6.08B in October 2018, down by 0.98% from $6.14B in October 2017. Similarly, the total number of cleared checks declined by 1.28% to reach 1.06M in October 2018.
Value of Cleared Checks by October (USD in $M)
Source: Association of Banks in Lebanon