Regulatory Alerts2022-10-28 | 13494Exceptional measures for cash withdrawals
The Governor of the Central Bank of Lebanon issued Central Decision No. 13494, which amends Article Four to extend the validity period of exceptional cash withdrawal measures until November 30, 2022, subject to renewal. This amendment takes immediate effect upon issuance and mandates official publication, operating pursuant to the Monetary and Credit Law and a recent Central Bank Council resolution. Financial institutions must apply the renewed withdrawal conditions throughout the specified extension period without further legislative action.
Central Circular No. 647 for Banks
Ref: Central Decision No. 13494 dated 28/10/2022 regarding the amendment of Central Decision No. 13384 dated 16/12/2021 (Exceptional Measures for Cash Withdrawals) enclosed with Central Circular No. 161.
Beirut, on 28 October 2022
Governor of the Central Bank of Lebanon
Riad T. Salam
Central Decision No. 13494 Amending Central Decision No. 13384 dated 16/12/2021
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Credit Law, particularly Articles 174 and 70 thereof, and pursuant to Central Decision No. 13384 dated 16/12/2021 and its amendments regarding exceptional measures for cash withdrawals, and pursuant to the decision of the Central Bank Council taken in its meeting held on 28/10/2022,
hereby decides as follows:
Article One: The text of Article Four of Central Decision No. 13384 dated 16/12/2021 is repealed and replaced with the following text: "This Decision shall take effect upon its issuance and its conditions shall apply for a period ending on 30/11/2022, renewable."
Article Two: This Decision shall take effect upon its issuance.
Article Three: This Decision shall be published in the Official Gazette.
Beirut, on 28 October 2022
Governor of the Central Bank of Lebanon
Riad T. Salam