Regulatory Alerts2021-06-21 | 13338Electronic Banking and Financial Operations
The Central Bank of Lebanon issued Central Decision No. 13338 to amend Basic Decision No. 7548 regarding financial and banking operations via electronic means, specifically updating daily and monthly transaction limits for Lebanese Lira to 1 million and 10 million respectively, while introducing comprehensive regulatory conditions for electronic wallet service providers. The decision mandates a minimum capital of 5 million LBP, requires dedicated bank accounts for deposited funds, and caps transaction commissions at 0.5 percent per operation. It further prohibits the issuance of electronic money in any form and requires monthly reporting to the Payment Systems Directorate using Form -1IP.
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