The Lebanese Central Bank issued a press release recently in which it announced that efforts are underway to promote the use of electronic cards in an endeavor to reduce the size of the cash economy in accordance with international standards pertaining to anti-money laundering and combatting terrorism financing measures. In this regard, the press release stated that BDL has been coordinating with VISA and Mastercard, as well as with local card issuing institutions to reduce the fees associated with the local use of the cards, thanking in the process the two former international companies for their cooperation. In parallel, BDL has been working with the Ministry of Finance (MOF) to adopt cards as a payment option for the settlement of taxes & fines after the installation of POS machines at the different branches of the MOF. Finally, the Central Bank reminded that it has previously issued circular number 165 concerning electronic settlement on fresh fund operations which has ultimately led to an increase in fresh dollar transfers and checks.