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A man holding 100-dollar bills. (Credit: AFP archives)
Add as preferred on Google In Lebanon, dollars circulate, finance purchases and pay salaries, but very few make their way back into the banks. When the crisis erupted in 2019, billions of dollars were withdrawn from banks or kept outside the banking system, as frozen deposits and withdrawal restrictions shattered confidence in banks and encouraged people to keep cash in private safes. More from Mounir Real estate, stocks, eurobonds: Lebanese banks multiply offers to settle deposits Since then, depositors have had little reason to put their money back in the banks when they still cannot be sure they will be able to withdraw it.As a result, in an economy where dollarization was estimated at around 85% in 2024–2025, a large share of these greenbacks remains outside the banking system, just as Lebanon seeks to demonstrate its commitment to financial... You have reached your article limitStay informed about a Middle East in crisis.Subscribe for $0.5/month for the first 3 months. Subscribe now Log in This article is only available to L’Orient Today subscribers. Subscribe now Log in Create a free account to continue reading this article. You’ll also receive The Morning Brief, our must-read daily digest of Middle East news. Opt out anytime Email Address Password Email Address Password I would like to receive special offers from L'Orient Today as well as selections of the best articles. Register By creating an account, you agree to the terms and conditions of use and our privacy policy. Register Or register with: Facebook
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