Fresh USD Checks Reached 104,229 Checks Valued at $1.31B by September 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 by 39.64% year over year (YoY) to 50,029 checks by September 2026.

Similarly, the cumulative value of cleared checks in local currency decreased by 8.85% YoY to LBP 41,056B by September 2026. Also, the cumulative value of cleared checks in foreign currency dropped by 39.92% YoY to $313M by September 2026.

Moreover, the volumes of cleared checks in Lebanese Pounds and foreign currencies witnessed substantial yearly drop of 39.1% and 50.3% respectively to settle at 48,021 and 2008 checks, by September 2026. Accordingly, the dollarization rate of checks in terms of volume fell from 4.87% in September 2025 to 4.01% in September 2026.

Notably, the number of returned checks dropped significantly by 40.92% YoY to stand at 257 checks by September 2026. Moreover, the value of returned checks in local currency increased YoY by 13.5% to reach LBP 353B, while checks in foreign currency decreased remarkably YoY by 83.56% to record $14.70M by September 2026.

Banque du Liban (BDL) issued Circular 165, which permits depositors to make payments by check starting June 1^st, 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, by September 2026, the cumulative number of checks issued from fresh accounts reached 143,193, of which 104,229 checks were in USD currency, amounting to $1.31B; and 38,964 checks were in LBP currency amounting to LBP 57,554B. On a monthly basis, the number of cleared fresh checks in September 2026 was 21,762 checks.

^{Source: ABL, BLOM Invest}

By Marybel Estephan