Fresh USD Checks Recorded 9,592 Checks Valued at $125.48 M in January 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 from 10,235 checks in January 2025 to 6,270 checks in January 2026. Similarly, value of cleared checks in local currency decreased from LBP 5,502B in January 2025 to LBP 4,940B in January 2026. Additionally, the value of cleared checks in foreign currency dropped from $78M in January 2025 to $37M in January 2026.
Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 36.35% and 70.32% respectively to settle at 6,056 and 214 checks, in January 2026. Accordingly, the dollarization rate of checks in terms of volume fell from 7.04% in January 2025 to 3.41% in January 2026.
Notably, the number of returned checks dropped substantially by 55.77% YOY to stand at 23 checks in January 2026. Moreover, the value of returned checks in local & foreign currency decreased YOY respectively by 76.19% and 94.65% in January 2026 to record LBP 5B and $0.21M.
Note that 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 January 2026, the number of checks issued from fresh accounts reached 12,929, of which 9,592 checks are in USD currency amounting $125.48M and 3,337 checks are in LBP currency amounting LBP 5,839B.
On a monthly basis, the total number of cleared fresh checks (LBP & USD) in January 2026 was the highest since the introduction of the new clearing system and reached 12,929 checks.
Cleared Checks in January 2026 (in 000s)
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