Lebanon CBDC
ResearchLebanon
Central Bank(s)
Lebanon's central bank
Announcement Year
2020
Status
Research
Retail/Wholesale
Retail
The CBDC project is part of a "regulatory mechanism" to restore confidence in Lebanon's troubled banking sector. CBDC will also help Lebanon move to a "cashless system" that enables more seamless cash movement locally and abroad.
The Governor of the central bank of Lebanon Riad Salamed, in October 2017, announced the central bank plan to eventually issue its own digital currency. In the announcement, he stated his belief that electronic currency will be very important in the future, but first the bank must develop safeguards against cybercrime. In November 2018 during his keynote speech at Al-Iktissad-Wal-Aamal Anti Cyber Crim Forum, Governor Riad commented that the bank has a working group researching the implementation of digital currency, which would be pegged to the Lira. The most recent update came in April 2020, when he reiterated that the bank was working on a digital currency, which Governor Riad believes will lead to a more cost effective method of making payments.
Link to announcement
Last update: November 2020
November 2020
None → Research
Announcement Year: 2020
Retail/Wholesale: Retail
Description: The Governor of the central bank of Lebanon Riad Salamed, in October 2017, announced the central bank plan to eventually issue its own digital currency. In the announcement, he stated his belief that electronic currency will be very important in the future, but first the bank must develop safeguards against cybercrime. In November 2018 during his keynote speech at Al-Iktissad-Wal-Aamal Anti Cyber Crim Forum, Governor Riad commented that the bank has a working group researching the implementation of digital currency, which would be pegged to the Lira. The most recent update came in April 2020, when he reiterated that the bank was working on a digital currency, which Governor Riad believes will lead to a more cost effective method of making payments.
Main motivation/goals of the CBDC: The CBDC project is part of a "regulatory mechanism" to restore confidence in Lebanon's troubled banking sector. CBDC will also help Lebanon move to a "cashless system" that enables more seamless cash movement locally and abroad.
Link to announcement: cointelegraph.comwww.ledgerinsights.comwww.coindesk.com
Country / Region: Lebanon
Central Bank(s): Lebanon's central bank
No recent news found for this currency.