LogoRegulatory Alerts
2023-12-28 | 13597

Certificates of Deposit Issued by Banque du Liban, Issuing of Certificates of Deposit & Banking Certificates, Bonds, Accounts Held in Foreign Currencies at BDL and Opening of Bank Accounts

Acting Governor of Banque du Liban issued Interim Decision No. 13597 on December 28, 2023, extending the application of specific provisions from five foundational decisions governing foreign currency accounts, bond issuances, certificates of deposit, and bank account openings until the 2024 General Budget is published. The decision immediately takes effect and mandates official gazette publication, thereby preserving regulatory continuity for Lebanese banks, financial institutions, and supervisory commissioners. It legally validates ongoing operational frameworks by explicitly referencing Articles 174 and 70 of the Monetary and Loan Law alongside recent Central Council resolutions.

Banque du Liban logo

Lebanon

Banque du Liban

Click to view thumbnail

Circular No. 684

To Banks and Financial Institutions, and to Supervisory Commissioners

We enclose for your reference a copy of Interim Decision No. 13597 dated 28/12/2023 regarding the amendment of:

  • The Basic Decision No. 5258 dated 17/9/1993 (Opening of foreign currency deposit accounts at Banque du Liban) attached to Basic Circular No. 14.
  • The Basic Decision No. 6856 dated 19/12/1997 (Bonds that may be issued by Lebanese banks and financial institutions) attached to Basic Circular No. 36.
  • The Basic Decision No. 7224 dated 11/2/1999 (System for issuing certificates of deposit and banking certificates) attached to Basic Circular No. 61.
  • The Basic Decision No. 7534 dated 2/3/2000 (Issuance of banking certificates of deposit by Banque du Liban) attached to Basic Circular No. 67.
  • The Basic Decision No. 13100 dated 3/9/2019 (Opening of bank accounts) attached to Basic Circular No. 147.

Beirut, on December 28, 2023

Acting Governor of Banque du Liban

Dr. Wissam Mansouri

Interim Decision No. 13597

Amendment of Basic Decisions Nos. 5258, 6856, 7224, and Basic Decisions Nos. 7534 and 13100

The Acting Governor of Banque du Liban, Pursuant to Articles 174 and 70 of the Monetary and Loan Law, And based on Basic Decision No. 5258 dated 17/9/1993 and its amendments regarding the opening of foreign currency deposit accounts at Banque du Liban, And based on Basic Decision No. 6856 dated 19/12/1997 and its amendments regarding bonds that may be issued by Lebanese banks and financial institutions, And based on Basic Decision No. 7224 dated 11/2/1999 and its amendments regarding the system for issuing certificates of deposit and banking certificates, And based on Basic Decision No. 7534 dated 2/3/2000 and its amendments regarding the issuance of banking certificates of deposit by Banque du Liban, And based on Basic Decision No. 13100 dated 3/9/2019 and its amendments regarding the opening of bank accounts, And based on a decision by the Central Council of Banque du Liban taken in its meeting held on 27/12/2023,

It is hereby decided as follows:

Article One: The application of the provisions of each of the following is extended:

  • "Article 4 bis" of Basic Decision No. 5258 dated 17/9/1993.
  • "Article 6 bis" of Basic Decision No. 6856 dated 19/12/1997.
  • "Article 20" of the system attached to Basic Decision No. 7224 dated 11/2/1999.
  • "Article 6 bis" of Basic Decision No. 7534 dated 2/3/2000.
  • "Article 4, second paragraph" of Basic Decision No. 13100 dated 3/9/2019. Until the issuance of the General Budget for the year 2024 and its publication in the Official Gazette.

Article Two: This decision shall take effect upon its issuance.

Article Three: This decision shall be published in the Official Gazette.

Beirut, on December 28, 2023

Acting Governor of Banque du Liban

Dr. Wissam Mansouri

Share