Regulatory Alerts2022-02-23 | 13412Exceptional Measures for Cash Withdrawals
The Governor of the Central Bank of Lebanon issued Circular Decision No. 13412 to amend Article Four of Basic Decision No. 13384, extending the exceptional cash withdrawal measures until 31 March 2022 with renewal capability. This amendment, effective immediately upon issuance and publication in the Official Gazette, maintains the existing withdrawal conditions while granting the Central Bank Council authority to extend the timeframe. Banks are required to apply these renewed terms in compliance with the Monetary and Loan Law, specifically Articles 174 and 70.
Circular No. 615
To Banks
We send you Circular Decision No. 13412 dated 23/02/2022 regarding the amendment of Basic Decision No. 13384 dated 16/12/2021 regarding exceptional measures for cash withdrawals, attached to Basic Circular No. 161.
Beirut, on 23 February 2022
Governor of the Central Bank of Lebanon
Riad T. Salam
Circular Decision No. 13412 Amendment of Basic Decision No. 13384 dated 16/12/2021
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Loan Law, particularly Articles 174 and 70 thereof, pursuant to Basic Decision No. 13384 dated 16/12/2021 regarding exceptional measures for cash withdrawals, and pursuant to a decision of the Central Bank Council taken in its meeting held on 16/02/2022, decrees the following:
Article 1: The text of Article Four of Basic Decision No. 13384 dated 16/12/2021 is repealed and replaced with the following: "This Decision shall take effect upon its issuance and its conditions shall apply for a period ending on 31/03/2022, renewable."
Article 2: This Decision shall take effect upon its issuance.
Article 3: This Decision shall be published in the Official Gazette.
Beirut, on 23 February 2022
Governor of the Central Bank of Lebanon
Riad T. Salam