OMT announces its USD to LBP Optional Exchange Service

OMT announces its USD to LBP Optional Exchange Service

OMT continues to settle USD money transfers in cash exclusively and announces its new USD to LBP optional exchange service.

OMT and other money transfer companies are the main source of cash USD in Lebanon. OMT reaffirms its commitment to settle inbound transfers in cash USD exclusively.

To support Banque du Liban’s reserves in USD, the Central Bank has granted OMT for Exchange s.a.l (OMT FX) a money exchange license, which allows it to buy USD amounts exclusively from willing customers of OMT, provided that the collected USD amounts are exclusively sold to Banque du Liban.

Therefore, starting 12 October 2021, OMT customers can optionally benefit from this service through all locations across the OMT network.

Accordingly, OMT customers collect their transfers in USD as usual and receive a receipt for the transaction. OMT offers its customers the option of exchanging (through OMT FX) the received amount, in part or in full. If the customers wish to, they may give the chosen amount to OMT and receive its equivalent in LBP. They will get a second receipt for the exchange transaction.

Kindly note that the rate is updated on the top banner of our website and on My OMT phone application (IOS and Android) every 5 minutes during operating hours.