According to the data published by the Association of Lebanese Banks’ (ABL), the total number of cleared checks in the Lebanese financial system decreased remarkably by 47.99% year over year (YoY) to 55,575 checks by June 2025. Similarly, the cumulative value of cleared checks in local currency decreased by 27.74% YoY to LBP 28.02B by June 2025. Likewise, the cumulative value of cleared checks in foreign currency dropped by 50.90% year-over-year (YoY) to reach $383M by June 2025.
Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 45.16% and 73.95% respectively to settle at 52,837 and 2,738 checks, by June 2025. Accordingly, the dollarization rate of checks in terms of volume fell from 9.84% in June 2024 to 4.93% in June 2025.
Notably, the number of returned checks was dropped substantially by 48.03% YoY to stand at 303 checks in June 2025. Moreover, the value of returned checks in local currency decreased by 20.86% YOY to record LBP 148B, however, the value of returned checks in foreign currency increased significantly by 194.90% YOY to record $ 69.21M in June 2025.
Banque du Liban (BDL) recently issued Circular 165, which permits depositors to make payments by check starting June 1st, 2023, as long as their accounts are in either fresh US dollars or Lebanese lira. To support this initiative, BDL has introduced a new clearing system, distinct from the one dedicated to pre-crisis deposits. This circular serves a dual purpose: it encourages customers to open new accounts in both Lebanese pounds and US dollars, while also aiming to decrease the country’s dependence on cash and stimulate economic recovery. As such, in June 2025, the cumulative number of checks issued from fresh accounts reached 34,650, of which 26,164 checks are in USD currency amounting $353.69M and 8,486 checks are in LBP currency amounting LBP 15,376B. On a monthly basis, the number of cleared checks in June 2025 was 7,163 checks.
Cleared Checks in June 2025 (in 000s)
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