Exploring e banking in Lebanon: Investor requests and ABL’s response

Exploring e banking in Lebanon: Investor requests and ABL’s response

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2023-05-03 | 09:31

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Exploring e-banking in Lebanon: Investor requests and ABL’s response

Twenty questions were directed by the members of the Parliamentary Economic Committee to the Association of Banks in Lebanon (ABL), represented by its President Salim Sfeir and other members, requesting written answers, particularly regarding the restructuring of the banking sector.

In this context, it is rumored that five license requests for what is known as e-banking have been submitted to Banque Du Liban. Firstly, what is e-banking?

These requests have been made by investors residing outside of Lebanese territories. 

This has raised the ire of ABL, which is trying to find legislation to protect the banking sector from actions that may alter the bank concept, which benefits both citizens and the country.

Banking sources asked what e-banking means. 

For example, are these investors opening an office in Beirut and dealing only with fresh money transfers? Have the sources of the money these investors plan to invest been confirmed, and have they never been on a blacklist?

Banking sources stated that the concept of the bank that must continue to be applied is to have branches in multiple regions, to deploy ATMs, and to offer banking services and offers such as loans and others.

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