Regulatory Alerts2019-12-30 | 13164Central Bank of Lebanon Circular No. 537: Amendment of Decision No. 7548 on Electronic Banking and Financial Operations
The Central Bank of Lebanon issued Decision No. 13164 to amend Decision No. 7548 regarding electronic financial and banking operations. The amendment repeals Article 7 bis and mandates that all non-bank institutions performing electronic cash transfers must remit the value of incoming foreign transfers in the same currency as the original transaction. This regulation became effective on January 8, 2020, and was published in the Official Gazette.
Circular No. 537
For Banks, Financial Institutions, and Institutions Engaging in Financial and Banking Operations via Electronic Means
We enclose a copy of Central Bank Decision No. 13164 dated 30/12/2019 concerning the amendment of the Basic Decision No. 7548 dated 30/3/2000 (Financial and Banking Operations via Electronic Means) attached to Basic Circular No. 69.
Beirut, on 30 January 2019
Governor of the Central Bank of Lebanon
Riad T. Salamé