Banks in Lebanon

Lebanon has commercial banks, specialized financial institutions, money-transfer businesses, and exchange dealers. Banque du Liban, often called BDL, is the central bank and oversees the monetary and banking system. Banks traditionally offer current accounts, savings accounts, payment cards, transfers, checks, loans, and business services. The services actually available can depend on the bank, account type, currency, and source of the money. A major local distinction is between money deposited before the financial crisis and newer funds brought into the banking system afterward. New foreign-currency funds are often called fresh money or fresh dollars and may have different withdrawal and transfer conditions. The Lebanese pound is commonly abbreviated as LBP or written as LL. Foreign currencies, especially United States dollars, also play a large role, so prices, accounts, and payments may use different currencies. Cash remains important in daily life because trust in banks and ordinary electronic payment channels has weakened. Cards and transfers may still be useful, but a person should confirm acceptance, limits, charges, and settlement currency before relying on them. Opening an account normally involves proving identity, address, occupation, tax-related information, and the source of funds. A bank may request additional documents as part of customer verification and anti-money-laundering controls. International transfers can involve the sending bank, the receiving bank, and correspondent banks abroad. Each institution may apply its own checks, fees, exchange method, or processing conditions. Banking can provide safer storage, records, and access to formal payments, but it also carries institutional, currency, access, and rule-change risks. Important arrangements should therefore be confirmed in writing and supported by independent records.