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2021-12-23 | 13392

Certificates of Deposit Issued by Banque du Liban, Issuing of Certificates of Deposit and Banking Certificates, Bonds, Accounts Held in Foreign Currencies at BDL, and Opening of Bank Accounts

The Banque du Liban issued Interim Decision No. 13392 to extend the validity of five key regulatory provisions governing foreign currency accounts, certificates of deposit, banking instruments, and bank account openings until June 30, 2022. The decision amends specific articles within Decisions No. 5258, 6856, 7224, 7534, and 13100, which collectively regulate the issuance and management of financial instruments by Lebanese banks and financial institutions. Effective immediately upon issuance, this extension ensures continuous regulatory compliance for existing instruments while maintaining the operational framework established by prior monetary and exchange laws.

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Circular No. 609

To Banks and Financial Institutions and to Supervisory Commissioners A copy of Interim Decision No. 13392 dated 2021/12/23 concerning the amendment of:

  • Decision No. 5258 dated 1993/9/17 (Opening of Foreign Currency Accounts and Certificates of Deposit at Banque du Liban) attached to Circular No. 14
  • Decision No. 6856 dated 1997/12/19 (Issuance of Certificates of Deposit and Banking Certificates by Lebanese Banks and Financial Institutions) attached to Circular No. 36
  • Basic Decision No. 7224 dated 1999/2/11 (Issuance of Certificates and Banking Instruments) attached to Circular No. 61
  • Basic Decision No. 7534 dated 2000/3/2 (Issuance of Banking Instruments by Banque du Liban) attached to Circular No. 67
  • Decision No. 13100 dated 2019/9/3 (Opening of Bank Accounts) attached to Circular No. 147 Beirut, on December 23, 2021 Governor of Banque du Liban Riad T. Salam

Interim Decision No. 13392

Amendment of Decision No. 5258, Decision No. 6856, Basic Decision No. 7224, Basic Decision No. 7534, and Decision No. 13100 The Banque du Liban, Pursuant to the Monetary and Exchange Law, particularly Articles 70 and 174 thereof, Pursuant to Decision No. 5258 dated 1993/9/17 and its amendments concerning the opening of foreign currency accounts and certificates of deposit at Banque du Liban, Pursuant to Decision No. 6856 dated 1997/12/19 and its amendments concerning the issuance of certificates of deposit and banking certificates by Lebanese banks and financial institutions, Pursuant to Basic Decision No. 7224 dated 1999/2/11 and its amendments concerning the issuance of certificates and banking instruments, Pursuant to Basic Decision No. 7534 dated 2000/3/2 and its amendments concerning the issuance of banking instruments by Banque du Liban, Pursuant to Decision No. 13100 dated 2019/9/3 and its amendments concerning the opening of bank accounts, Pursuant to the decision of the Central Council of Banque du Liban taken in its meeting held on 2021/12/22, It has decided as follows:

Article One: The application of each of the following is extended until 2022/6/30:

  • "Article Fourter" of Decision No. 5258 dated 1993/9/17, added by Interim Decision No. 13157 dated 2019/12/4
  • "Article Sixter" of Decision No. 6856 dated 1997/12/19, added by Interim Decision No. 13187 dated 2020/1/30
  • "Article Seventer" of the Circular attached to Basic Decision No. 7224 dated 1999/2/11, added by Interim Decision No. 13187 dated 2020/1/30
  • "Article Sixter" of Basic Decision No. 7534 dated 2000/3/2, added by Interim Decision No. 13157 dated 2019/12/4
  • "Article Four" of Decision No. 13100 dated 2019/9/3, added by Interim Decision No. 13157 dated 2019/12/4 and amended by Interim Decision No. 13195 dated 2020/2/13

../.. -2- Article Two: This Decision shall take effect upon its issuance. Article Three: This Decision shall be published in the Official Gazette. Beirut, on December 23, 2021 Governor of Banque du Liban Riad T. Salam

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