Regulatory Alerts2020-08-26 | 13261Aid to those affected by the explosion at the Port of Beirut
The Central Bank of Lebanon issued Intermediary Decision No. 13261 to amend Basic Decision No. 13254 regarding exceptional loans for individuals and businesses affected by the August 2020 Port of Beirut explosion. The amendment clarifies that borrowers must repay received insurance compensations, grants, or relief assistance in full or partially against their exceptional loans, and permits banks to disburse these funds once at a maximum of 150,000 Lebanese Lira based on the electronic platform's market rate. This decision takes effect immediately upon issuance and is published in the Official Gazette to resolve prior application ambiguities.
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