Regulatory Alerts2020-01-16 | 13181Central Bank of Lebanon Circular No. 538 Regarding Banks' Status
The Central Bank of Lebanon, through Circular No. 538 issued by Governor Riad Salameh, officially repeals the model annexed to Basic Circular No. 7723 dated December 2, 2000. This decision effectively terminates the previous regulatory framework concerning the status of banks and financial institutions. The circular mandates that this repeal is effective as of January 31, 2020, and requires publication in the Official Gazette.
Circular No. 538 For Banks, Financial Institutions, and Leasing Companies
Regarding the repeal of Basic Circular No. 7723 dated 2000/12/2 concerning the status of banks
Circular No. 76
Beirut, January 16, 2020
Governor of the Central Bank of Lebanon Riad Salameh
Decision No. 13181 Repeal of Basic Circular No. 7723 dated 2000/12/2
The Governor of the Central Bank of Lebanon,
Having regard to the Law on Banks and Credit, particularly Articles 146 and 174 thereof;
Having regard to Basic Circular No. 7723 dated 2000/12/2 and its amendments concerning the status of Banks;
Having regard to the request for the continuation of the status;
Having regard to the powers vested in the Governor to ensure the stability of the Central Bank of Lebanon as a public institution;
Decides as follows:
Article 1: The annex to Basic Circular No. 7723 dated 2000/12/2 is hereby repealed.
Article 2: This Decision shall be effective as of the suspended status date of 2020/1/31.
Article 3: This Decision shall be published in the Official Gazette.
Beirut, January 16, 2020
Governor of the Central Bank of Lebanon Riad Salameh