Lebanon has recently launched a cash subsidy card targeted for over 500,000 families in an endeavor to alleviate part of the impact of the harsh economic crisis that has been plaguing Lebanon over the last two years. During a press conference, it was revealed that the cost of the program will stand at $556 million over a period of one year, financed via BDL bearing in mind that this card comes in place of the costly subsidy program that has drained BDL reserves. Eligible families will benefit from a monthly $25 per individual, and an additional $15 for every individual older than 64 years, bearing in mind that subsidies per family are capped at $126, noting that payments will be released either in USD or their equivalent in LBP. Eligible people can apply for the program during the period extended between September 15 and October 15. In this regard, and in order to ensure that only the most needy benefit from the provisions of the card, people meeting any of the below criteria will be excluded from the program, while noting that USD figures are in fresh terms or their equivalent in LBP:

-       Living in Lebanon for less than 183 days per year

-       Having a monthly income of more than $800 or an annual income of more than $10,000.

-       Having a bank account exceeding $10,000, bearing in mind that all applicants must waive their banking secrecy.

-       Paying an annual rent (if any) in excess of $10,000.

-       Receiving annual remittances exceeding $3,000.

-       People owning 2 cars (or more) that were registered after the year 2018.