Regulatory Alerts2022-06-21 | 13447Exceptional measures for the gradual withdrawal of deposits in foreign currencies
The Central Bank of Lebanon issued Decision No. 13447 to amend Decision No. 13335, establishing exceptional measures for the gradual withdrawal of foreign currency deposits. The amendment modifies eligibility criteria for accounts opened before October 31, 2019, and cash collateral released prior to that date, while adjusting the monthly withdrawal limit to 12,000 Lebanese Lira (50% cash, 50% via cards/checks/transfers) and capping annual withdrawals at 4,800 US dollars. Furthermore, it introduces suspension mechanisms for exceeding the annual cap, permits banks to utilize 3% of external liquidity until December 31, 2023, and extends the decision's validity for one renewable year effective July 1, 2022.
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