OMT announces its USD to LBP Optional Exchange Service
OMT continues to settle USD money transfers in cash exclusively and announces its new USD to LBP optional exchange service.
OMT and other money transfer companies are the main source of cash USD in Lebanon. OMT reaffirms its commitment to settle inbound transfers in cash USD exclusively.
To support Banque du Liban’s reserves in USD, the Central Bank has granted OMT for Exchange s.a.l (OMT FX) a money exchange license which allows it to buy USD amounts exclusively from willing customers of OMT, provided that the collected USD amounts are exclusively sold to Banque du Liban.
Therefore, starting October 12, OMT customers can start optionally benefit from this service through all locations across the OMT network.
Accordingly, the OMT customer collects their transfer in USD as usual and receives a receipt for the transaction. OMT offers the customer the option of exchanging the amount, in part or in full. If the customers wishes to, they may give the chosen amount to OMT and receive its equivalent in LBP. They will get a second receipt for the exchange transaction.