Regulatory Alerts2022-10-07 | 13484Central Bank of Lebanon Decision No. 13484 on Documentary Credits
The Central Bank of Lebanon issued Decision No. 13484 to amend Decision No. 7144 regarding Documentary Credits and Letters of Guarantee. The amended regulation mandates that banks must obtain prior exceptional approval from the Central Bank before opening credits or paying invoices exclusively allocated for importing petroleum products (gasoline, diesel, and gas). This approval process requires banks to submit the final invoice, bill of lading, and unloading report to the Foreign Operations Department.
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