BEIRUT: The Association of Banks in Lebanon said on Saturday it “completely rejects” the government’s latest draft of a financial recovery plan meant to pull the country out of an economic meltdown. Continue Here.

BEIRUT, March 24 (Reuters) – When a Lebanese bank told Aref Yassin it had closed accounts worth $20 million belonging to the professional syndicate he heads and issued a cheque for the balance that was worth a fifth of its face value, he took the matter to court. Continue here.

The Central Bank of Lebanon (BDL) issued a $500/month limit for every individual bank account. This comes after people were reportedly using Circular 161 to buy dollars on the Sayrafa rate to sell on the black market rate for financial profit. Continue reading here.

From now on, the two banks will be treated as one legal entity under the name FABMISR. First Abu Dhabi Bank (FAB) announced the end of a legal merger process with Bank Audi – Egypt in a Facebook post on Saturday. Continue for full story here.

BEIRUT, June 9 (Reuters) – Lebanon’s banks should “go first” in absorbing losses stemming from the country’s financial collapse through their capital, caretaker deputy prime minister Saade Chami said on Thursday, denying the state would rely on a sovereign fund or gold reserves to reimburse depositors who had lost their savings. Continue reading here