Regulatory Alerts2023-01-30 | 13530Exceptional Measures for Cash Withdrawals
The Governor of the Central Bank of Lebanon issued Decision No. 13530 to amend Article Four of Basic Decision No. 13384, extending the validity period for exceptional cash withdrawal measures until February 28, 2023, subject to renewal. The revised provision mandates immediate effect upon issuance and confirms the continued application of the article’s provisions to current banking operations. This regulatory update preserves operational flexibility for Lebanese banks under the Monetary and Banking Law while maintaining Central Bank Council oversight.
Circular No. 660 for Banks, linked to Decision No. 13530 dated January 30, 2023, amending Basic Decision No. 13384 dated December 16, 2021 (Exceptional Measures for Cash Withdrawals), attached to Basic Circular No. 161.
Beirut, January 30, 2023 Governor of the Central Bank of Lebanon Riad T. Salamah
Decision No. 13530 Amending Basic Decision No. 13384 dated December 16, 2021
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Banking Law, particularly Articles 70 and 174 thereof, based on Basic Decision No. 13384 dated December 16, 2021 and its amendments regarding exceptional measures for cash withdrawals, based on the meeting held on January 30, 2023, and upon the decision of the Central Bank Council taken on that date, decides as follows:
Article 1: The fourth article of Basic Decision No. 13384 dated December 16, 2021 is repealed and replaced with the following: "This decision shall take effect upon its issuance, and the provisions of this article shall apply until February 28, 2023, subject to renewal."
Article 2: This decision shall take effect upon its issuance.
Article 3: This decision shall be published in the Official Gazette.
Beirut, January 30, 2023 Governor of the Central Bank of Lebanon Riad T. Salamah