Regulatory Alerts2020-05-27 | 13229Facilities that may be granted by BDL to banks and financial institutions
The Governor of the Central Bank of Lebanon issued Decision No. 13229 to amend Basic Decision No. 6116, enabling banks operating in Lebanon to request foreign currency from the Central Bank to finance Lebanese importers and food manufacturers. The amendment requires Ministry of Economy and Trade approval for applications, applies an exchange rate consistent with Article 7-bis of Basic Decision No. 7548, and holds banks fully responsible for compliance under penalty of a special interest-bearing reserve. This facility remains valid for one year from its issuance on May 27, 2020.
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