Fresh USD Checks Reached 61,980 Checks Valued at $781.83M by June 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 35.67% year over year (YoY) to 35,749 checks by June 2026. However, the cumulative value of cleared checks in local currency increased by 13.31% YoY to LBP 31,753B by June 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 38.90% YoY to $234M by June 2026.

Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 34.96% and 49.42% respectively to settle at 34,364 and 1,385 checks, by June 2026. Accordingly, the dollarization rate of checks in terms of volume fell from 4.93% in June 2025 to 3.87% in June 2026.

Notably, the number of returned checks dropped significantly by 46.20% YoY to stand at 163 checks by June 2026. Moreover, the value of returned checks in local & foreign currency decreased drastically YoY respectively by 22.30% and 83.75% by June 2026 to record LBP 115B and $11.24M.

Banque du Liban (BDL) issued Circular 165, which permits depositors to make payments by check starting June 1^st, 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 June 2026, the cumulative number of checks issued from fresh accounts reached 84,872, of which 61,980 checks were in USD currency, amounting to $781.83M; and 22,892 checks were in LBP currency amounting to LBP 34,838B. On a monthly basis, the number of cleared fresh checks in June 2026 was 19,066 checks.

Cleared Checks by June 2026 (in 000s)

^{Source: ABL, BLOM Invest}