Regulatory Alerts2023-03-28 | 13542Operations relating to credit, investment and shareholding and participation
The Governor of the Central Bank of Lebanon has amended Central Decision No. 7776 by adding a seventh paragraph to Repeated Article Three, requiring banks operating in Lebanon to limit salary garnishments per Article 863 of the Civil Procedure Law and to restructure US dollar installment loans so monthly repayments do not exceed specified statutory percentages. This regulatory change directly addresses the repayment burden on low-income earners amid high US dollar exchange rates and exceptional economic conditions. The decision takes immediate effect upon issuance and is published in the Official Gazette.
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