Regulatory Alerts2020-04-21 | 13221Exceptional Measures for Cash Withdrawals from Foreign-Currency Accounts
Banque du Liban issued Basic Decision No. 13221, authorizing Lebanese banks to sell foreign currencies generated from client cash withdrawals or cash desk operations back to the central bank for settlement in Lebanese Lira. The decision establishes a monthly purchase limit of 1/600 USD per account at a fixed rate of 15,000 Lira per US dollar and mandates monthly reporting to the Banks Supervision Commission. All other US-dollar bank-client transactions remain subject to the central bank's prescribed rate, with the decision remaining in force until December 31, 2023.
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