Regulatory Alerts2023-04-19 | 13548Electronic Settlement of Fresh Money
Banque du Liban issued Basic Decision No. 13548 to establish a dedicated electronic settlement framework for 'Fresh Money' (foreign currency banknotes and Lira-denominated notes deposited after October 2019) within its National Payment System (NPS-BDL). The decision mandates participating banks and financial institutions to open exclusive Lira and USD accounts, adopt specific SWIFT codes and smart cards, and utilize designated clearing channels for checks, credit transfers, and direct debits by May 10, 2023. It further defines operational hours, commission structures, liquidity requirements, and administrative penalties to ensure seamless real-time gross settlement (RTGS) and clearing operations for these funds.
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