Regulatory Alerts2021-06-08 | 13335Exceptional Measures for the Gradual Repayment of Foreign Currency Deposits
Banque du Liban’s Governor issued Basic Decision No. 13335 to mandate Lebanese banks to gradually repay frozen foreign currency deposits held before October 31, 2019, through a dedicated Special Sub-Account mechanism. The decision establishes monthly withdrawal limits of USD 1,000 (with USD 800 available as cash or remittances and USD 200 for POS transactions) and an annual cap of USD 12,000 per account holder across all banks. It further details liquidity sourcing from foreign correspondent balances and mandatory reserves, retroactive benefit periods, suspension rules for cap exceedances, and strict prohibitions on additional bank-imposed fees or conditions.
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