Regulatory Alerts1998-02-26 | 6908Methods of Deposit and Withdrawal of Money and Drawing of Cheques on Accounts Opened with BDL
The Central Bank of Lebanon issued Basic Decision No. 6908 to establish standardized procedures for depositing and withdrawing cash, as well as drawing cheques on accounts held at the bank. The decision mandates specific packaging, arrangement, and electronic submission requirements for banks, financial institutions, and exchange offices, while detailing precise timelines, fee structures, and penalty tiers for non-compliance. It further outlines the operational mechanisms for vault operations, server failure protocols, and exemption conditions under force majeure to ensure efficient cash management.
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