In a statement put out by Governor Salamah on 30 June 2022, the Governor said that Lebanon has 9,222,437.73 ounces of gold (Troy ounces and gold coins), out of which 3,707,703.13 ounces are located in the USA and 5,514,734.60 ounces are located at BDL. The Governor also emphasized that BDL has not undertaken any operations whatsoever on its gold holdings. At a current price of $1,812 per ounce, the value of BDL’s gold holdings stand at about $16.7 billion. Additionally, Lebanon’s gold holdings rank 2nd in the Arab world (after KSA) and 18th globally. Also, at end June 2022 they constituted 10% of BDL’s assets. Interest in BDL’s gold holdings has arisen lately when a report commissioned by ABL suggested that the gold be used to pay for the financial gap at BDL (estimated at more than $60 billion). However, this suggestion was immediately revoked by government officials and even members of the ABL.
BDL Balance Sheet June 2022