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 46.80% year over year (YoY) to 73,551 checks by August 2025. Similarly, the cumulative value of cleared checks in local currency decreased by 27.54% YoY to LBP 39.64B by August 2025. Likewise, the cumulative value of cleared checks in foreign currency dropped by 49.05% year-over-year (YoY) to reach $484M by August 2025.
Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 44.26% and 71.80% respectively to settle at 69,959 and 3,592 checks, by August 2025. Accordingly, the dollarization rate of checks in terms of volume fell from 9.21% in August 2024 to 4.88% in August 2025.
Notably, the number of returned checks was dropped substantially by 47.87% YoY to stand at 404 checks in August 2025. Moreover, the value of returned checks in local currency decreased by 35.21% YOY to record LBP 265B, however, the value of returned checks in foreign currency increased significantly by 124.14% YOY to record $88.47M in August 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 August 2025, the cumulative number of checks issued from fresh accounts reached 53,142, of which 39,702 checks are in USD currency amounting $538.6M and 13,440 checks are in LBP currency amounting LBP 22,986B. On a monthly basis, the number of fresh cleared checks in August 2025 was 9,285 checks.
Cleared Checks in August 2025 (in 000s)
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