BDL Governor Riad Salame met today with OMT Chairman Toufic Mouawad to discuss media reports related to a draft circular stipulating the settlement of inbound money transfers in 50% USD and 50% LBP.
Salame affirmed that said circular hasn’t been issued.
Mouawad shared an overview in numbers of inbound money transfers through OMT:
- Around 220,000 monthly receivers collect money transfers from their families abroad through OMT.
- The total value of inbound transfers collected through OMT monthly is around USD 120 million.
- 70% of these transfers are less than USD 500.
Salame confirmed that he will take into account all of these insights when considering any circular related to money transfers.
OMT Chairman thanked BDL Governor for his positive approach, for understanding the social and humanitarian situation, and for considering that expatriates' money transfers are the main oxygen of the Lebanese economy, which has contributed in preventing a social explosion.