Insurance premiums in Lebanon to be paid in US dollars

The Association of Insurance Companies in Lebanon (ACAL) announced that the underwriting and renewal of insurance policies will be done in "Fresh Dollars" as of 2022.

The term "fresh dollars" refers to the sums denominated in US dollars, injected into the Lebanese banking system and collected either in cash or through international electronic payments.

This decision comes in response to the challenges facing the insurance market following the significant depreciation of the Lebanese Pound.