Regulatory Alerts2024-02-02 | 13613Certificates of Deposit Issued by Banque du Liban and Accounts Held in Foreign Currencies at BDL
Banque du Liban’s Acting Governor issued Intermediary Decision No. 13613 to amend Basic Decisions 5258 and 7534, reducing interest rates on fixed-term US dollar deposits and US dollar certificates of deposit held by Lebanese banks by 75%, with both interest reductions payable in US dollars. The amended provisions apply to deposits and certificates issued between 3 February and 30 June 2024, effectively lowering funding costs for banks operating in Lebanon while maintaining dollar-denominated payouts. This regulatory adjustment implements the Central Bank Council’s February 2024 directives to support liquidity and stabilize foreign currency operations within the domestic banking sector.
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