Latest news with #BDL
LBCI
a day ago
- Business
- LBCI
Banking reform law reaches Lebanese Parliament: What it means for depositors
Report by Lea Fayad, English adaptation by Yasmine Jaroudi After years of delays, Lebanon's long-awaited banking reform law has finally reached the Parliament for approval in a general session. The latest draft introduces key amendments that directly impact depositors, particularly those with multiple accounts in different banks. One of the most significant changes guarantees account independence. Under the revised version, if a depositor holds three separate accounts at three different banks, each with $100,000 or more, they would be entitled to reclaim up to $300,000 in total. This marks a sharp departure from the government's original proposal, which would have capped compensation at $100,000 per individual, regardless of the number of accounts held or the banks involved. Another major shift prioritizes individual depositors over public institutions. While the government's previous version gave full repayment priority to public sector deposits, the new draft restores precedence to private depositors seeking to recover their savings. Passing the law is seen as a positive step, but observers note it remains incomplete. The law's actual implementation hinges on the adoption of a separate piece of legislation: the Financial Regularization and Deposit Recovery Law. That law will determine how financial losses are apportioned between the state, the Banque du Liban (BDL), commercial banks, and depositors. This is where the process gets more complex. Finance Minister Yassine Jaber has pledged to submit the financial regularization bill to the Parliament within six months. However, skepticism remains high. Nearly six years have passed since Lebanon's financial collapse began, with successive governments failing to push through a deposit recovery mechanism. Meanwhile, citizens' deposits remain effectively frozen, widely seen as a violation of their rights. For many, unless the upcoming legislation offers a genuine solution to the banking crisis, current efforts may be viewed as little more than political maneuvering ahead of the next parliamentary elections.
L'Orient-Le Jour
5 days ago
- Business
- L'Orient-Le Jour
Bank Audi estimates 5% Lebanese economic growth in 2025
"The first half of 2025 marked a clear reversal of the trend" in Lebanon, says Bank Audi in its latest quarterly economic report. This is "driven by a political breakthrough at the national level following a promising presidential election, the formation of a qualified cabinet, key administrative appointments and some reform initiatives," it continues. According to Bank Audi, this turnaround is evident thanks to several economic indicators, notably the increase in eurobond prices to nearly 18 cents on the dollar, compared to less than 6 cents on the dollar last September. This shows that "institutional investors are betting that the political breakthrough would lead to the long-awaited economic reforms and a debt restructuring," the authors of the report mention. Balance of payments surplus Next, Bank Audi highlights a 16 percent year-over-year increase in imports during the first five months of the year, while exports increased by 21 percent over the same period. "Taking into account 6.7 percent imported inflation from the countries of origin, the real increase in imports is estimated at 9.3 percent, reflecting an increase in real demand for consumer and investment goods in Lebanon, which supports our forecast of real GDP growth of 5 percent for 2025," the report adds. At the same time, the bank notes the $1.9 billion surplus recorded over the first five months of the year in the balance of payments. Although the balance of payments shows "a nominal surplus of $8.1 billion, about $6.3 billion of that is linked to the rise in gold prices," resulting in "a real surplus of $1.9 billion for the period," it details. As for the domestic level, Bank Audi mentions the stability of the Lebanese pound, mainly supported by "a near-balance in public finances and the balance of payments," while the absence of a public deficit in the past two years equates to no monetary creation in Lebanese pounds. "That being said, although the pound has recently maintained its stability ... it has, however, not regained its fundamental economic functions [means of exchange, unit of account, store of value, standard of deferred payment], which indicates that it remains an almost inactive currency," the authors of the report qualify. "The monetary challenge of the new era would be for the Lebanese pound to regain its four fundamental functions lost during the crisis gradually," they add. Optimism, challenges Still, in terms of levers for monetary stability, the authors note that Banque du Liban's (BDL) foreign currency reserves increased by $1.191 billion in six months, from $10.135 billion at the end of December 2024 to $11.326 billion at the end of June 2025. At the same time, the bank notes that BDL's gold reserves were valued at $30.277 billion as of the end of June 2025, compared to $24.102 billion at the end of December 2024. This increase is solely due to the global rise in gold prices. In this context, the authors of the report point out "that Lebanon currently has the highest ratio of gold reserves to GDP in the world, close to 100% percent, compared to a global average of about 4 percent." Regarding the banking sector, the latest figures show that fresh deposits in foreign currency in Lebanese banks, as opposed to those that have been blocked since the start of the crisis, have risen from approximately $3.2 billion at the beginning of the year to more than $4 billion today. Finally, despite this renewed optimism, Bank Audi maintains that Lebanon still faces numerous challenges, the most pressing of which are centered on three key areas. First, it is the need to restore confidence that requires upholding the cease-fire, restoring the sovereign role of the state and the army with a total monopoly over arms in the country, and working toward the establishment of a just and lasting peace. The second would be implementing banking restructuring and the mechanism for distributing financial losses. Third is concluding a final agreement with the International Monetary Fund (IMF), as "Lebanon is urgently in need of international assistance, which could be provided directly and indirectly by an IMF program," the report concludes. Bank Audi table sur une croissance de 5 % de l'économie libanaise en 2025
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Business Standard
6 days ago
- Business
- Business Standard
These defence stocks cracked up to 28% from recent highs; correction over?
Technical charts show that defence stocks such as BDL, Mazagon Dock, Cochin Shipyard, ideaForge and GRSE can fall another 18% from here; check support levels each defence shares here. Rex Cano Mumbai Listen to This Article After surging up to 123 per cent earlier this year, shares of defence stocks have witnessed a notable correction in prices on the stock exchanges, and are down up to 27 per cent from their recent highs. Earlier in 2025, shares of Garden Reach Shipbuilders & Engineers (GRSE), Bharat Dynamics, Paras Defence and Solar Industries from the Nifty Defence index rallied in the range of 80 - 123 per cent, with GRSE as the top gainer. Among others, Mazagon Dock Shipbuilders, Cochin Shipyard, Astra Microwave Products, Bharat Electronics and Mishra Dhatu Nigam (Midhani) gained in the range of
L'Orient-Le Jour
22-07-2025
- Business
- L'Orient-Le Jour
BDL ban on al-Qard al-Hassan: Repercussions for Hezbollah's economy
After enduring Israeli strikes and American sanctions, Hezbollah now faces an economic offensive from the Banque du Liban (BDL). In a directive issued on July 14, the BDL banned Lebanese banks and financial institutions from dealing with al-Qard powerful charity NGO was founded in 1985, which the party uses to distribute interest-free microloans to its supporters and pay its is the first time that the BDL has formally targeted al-Qard al-Hassan, which has been on the U.S. Treasury blacklist since 2007, alongside Bayt al-Mal — Hezbollah's 'treasury,' according to Washington, and the investment company al-Yusor (sanctioned since 2006). Context BDL bans banks and financial institutions from dealing with companies like al-Qard al-Hassan The measure received immediate backing from Washington: U.S. envoy Tom...
Business Upturn
19-07-2025
- Business
- Business Upturn
Why did Bharat Dynamics shares fall 8% this week? Details here
By Aman Shukla Published on July 19, 2025, 12:06 IST Bharat Dynamics Ltd (BDL) shares took a sharp hit this week, ending over 8% lower as investors continued to book profits in the broader defence sector after months of strong gains. On Friday, the stock closed at ₹1,672, down nearly 4% for the day. Friday's session saw BDL open at ₹1,740 and hit a high of ₹1,762.80 before slipping to an intraday low of ₹1,668. This puts the stock well off its 52-week high of ₹2,096.60, though it's still up significantly from its 52-week low of ₹890. The recent sell-off in defence stocks—including names like Hindustan Aeronautics and Mazagon Dock—appears to be driven by profit-taking. Defence stocks had seen renewed interest starting in March, with momentum building further in May after India's high-profile 'Operation Sindoor.' The military operation, which saw successful interception of incoming drones and missiles launched by Pakistan, spotlighted India's growing capabilities in indigenously developed defence systems. Bharat Dynamics, a key manufacturer of missile systems, benefited from that sentiment. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
