Banks Statement: Central Bank of Lebanon Decision No. 13370

Central Bank of Lebanon Circular No. 598

To Banks, Financial Institutions, and Leasing Companies

Extract of Decision No. 13370 dated 19/10/2021 concerning the amendment of Decision No. 7723 dated 2/12/2000 (Banks Status) attached to Circular No. 76.

Beirut, on October 19, 2021

Governor of the Central Bank of Lebanon Riad T. Salam

Decision No. 13370

Amendment of Decision No. 7723 dated 2/12/2000

The Governor of the Central Bank of Lebanon, based on the Monetary and Banking Law, particularly Articles 146 and 174 thereof, based on Decision No. 7723 dated 2/12/2000 and its amendments concerning the status of banks, based on Decision No. 13217 dated 9/4/2020 concerning exceptional exemptions from mandatory bank allocations, and based on the decision taken by the Central Council in its meeting held on October 13, 2021,

hereby decides the following:

Article One: The following paragraph (6) is added to Article 1 of Decision No. 7723 dated 2/12/2000: Paragraph (6): «The monthly status for Lebanon branches regarding "new funds" as defined in Decision No. 13217 dated 9/4/2020, which have been transferred from abroad and/or received in cash in foreign currency after November 17, 2019.»

Article Two: The text of paragraph (1) of Article 2 of Decision No. 7723 dated 2/12/2000 is repealed and replaced with the following text: «The monthly statuses specified in paragraphs (1), (2), (3), (4) and (6) of Article 1 are electronically submitted via the project for electronic submission of statistical reports (eSTR) within a period of twelve days, and printed in paper form within a period of ten days from the date these statuses are suspended.

Article Three: This decision takes effect as of October 31, 2021.

Article Four: This decision shall be published in the Official Gazette. Beirut, on October 19, 2021

Governor of the Central Bank of Lebanon Riad T. Salam