Fresh USD Checks Recorded 9,957 Checks Valued at $134.8M in February 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 8,910 checks in February 2025 to 6,591 checks in February 2026. Similarly, value of cleared checks in local currency decreased from LBP 9,543B in February 2025 to LBP 6,170B in February 2026. Additionally, the value of cleared checks in foreign currency dropped from $171M in February 2025 to $18M in February 2026.
Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 64.80% and 77.59% respectively to settle at 6,331 and 260 checks, in February 2026. Accordingly, the dollarization rate of checks in terms of volume fell from 6.06% in February 2025 to 3.94% in February 2026.
Notably, the number of returned checks has dropped substantially by 62.38% YOY to stand at 38 checks in February 2026. Moreover, the value of returned checks in local & foreign currency decreased YOY respectively by 91.80% and 99.65% in February 2026 to record LBP 5B and $0.21M.
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 February 2026, the cumulative number of checks issued from fresh accounts reached 26,261, of which 19,549 checks are in USD currency amounting $260.25M and 6,712 checks are in LBP currency amounting LBP 11,018B. On a monthly basis, the number of fresh cleared checks in both currencies in February 2026 was 13,332 checks.
Cleared Checks by February 2026 (in 000s)
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