Fresh USD Checks Reached 38,634 Checks Valued at $490.1M by April 2026

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 36.19% year over year (YoY) to 24,098 checks by April 2026. However, the cumulative value of cleared checks in local currency increased by 11.31% YoY to LBP 21,807B by April 2026. This upsurge in value of Lebanese checks given that the number of Lebanese checks issued decreased reflects higher denomination in LBP per check due to the exchange rate depreciation. However, the cumulative value of cleared checks in foreign currency dropped by 59.60% YoY to $120M by April 2026.

Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 35.09% and 56.09% respectively to settle at 23,233 and 865 checks, by April 2026. Accordingly, the dollarization rate of checks in terms of volume fell from 5.22% in April 2025 to 3.59% in April 2026.

Notably, the number of returned checks dropped significantly by 48.44% YoY to stand at 116 checks by April 2026. Moreover, the value of returned checks in local & foreign currency decreased drastically YoY respectively by 74.07% and 98.14% by April 2026 to record LBP 28B and $1.24M.

Banque du Liban (BDL) 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, by April 2026, the cumulative number of checks issued from fresh accounts reached 53,161, of which 38,634 checks were in USD currency, amounting to $490.1M; and 14,527 checks were in LBP currency amounting to LBP 22,452B. On a monthly basis, the number of cleared Fresh checks in April 2026 was 15,215 checks.

Cleared Checks by April 2026 (in 000s)

_{Source: ABL, BLOM Invest}