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2022-12-28 | 13511

Issuing of Certificates of Deposit & Banking Certificates, Bonds and Opening of Bank Accounts

The Governor of the Central Bank of Lebanon issued Decision No. 13511 to extend until June 30, 2023, the validity of specific provisions in Basic Decisions Nos. 6856, 7224, and 13100 governing negotiable debt securities, banking certificates, bonds, and banking installments. The decision repeals the terms "permanent," "temporary," and "after three months" in Article Four of Basic Decision No. 13100, while maintaining the "temporary" classification for that article until the extension date. This regulatory update ensures continued operational flexibility for Lebanese banks and financial institutions regarding their issued debt instruments and installment frameworks.

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Central Bank Circular No. 655

To Banks and Financial Institutions, and to Supervisory Commissioners. A copy of Central Bank Decision No. 13511 dated 28/12/2022, enclosed in Circular No. 655, concerning the amendment of:

  • Basic Decision No. 6856 dated 19/12/1997 (Lebanese Banks and Financial Institutions' Issued Negotiable Debt Securities), attached to Basic Circular No. 36.
  • Basic Decision No. 7224 dated 11/02/1999 (Issuance of Banking Certificates and Bonds), attached to Basic Circular No. 61.
  • Basic Decision No. 13100 dated 03/09/2019 (Banking Installments), attached to Basic Circular No. 147. Beirut, on December 28, 2022 Governor of the Central Bank of Lebanon Riad T. Salamah

Central Bank Decision No. 13511

Amendment of Basic Decisions Nos. 5258, 6856, 7224, 7534, and 13100. The Governor of the Central Bank of Lebanon, Pursuant to Articles 70 and 174 of the Monetary and Discount Law, particularly those articles; Pursuant to Basic Decision No. 6856 dated 19/12/1997 and its amendments concerning the issuance of negotiable debt securities by Lebanese banks and financial institutions; Pursuant to Basic Decision No. 7224 dated 11/02/1999 and its amendments concerning the issuance of banking certificates and bonds; Pursuant to Basic Decision No. 13100 dated 03/09/2019 and its amendments concerning banking installments; Pursuant to the decision of the Central Council of the Central Bank taken in its meeting held on 21/12/2022; Hereby decides the following: Article One: The application of the following provisions is extended until 30/06/2023:

  • "Article Six (repeated)" of Basic Decision No. 6856 dated 19/12/1997, added by Central Bank Decision No. 13187 dated 30/01/2020;
  • "Article Seven" of the issuance attached to Basic Decision No. 7224 dated 11/02/1999, added by Central Bank Decision No. 13187 dated 30/01/2020; The words "permanent", "temporary", and "after three months" in Article Four of Basic Decision No. 13100 dated 03/09/2019, added by Central Bank Decision No. 13157 dated 04/12/2019 and amended by Central Bank Decision No. 13195 dated 13/02/2020, are repealed; The application of the word "temporary" in Article Four shall remain valid until 30/06/2023. Final Article: This decision takes effect upon its issuance. Article Four: This decision is published in the Official Gazette. Beirut, on December 28, 2022 Governor of the Central Bank of Lebanon Riad T. Salamah
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