Regulatory Alerts2021-03-24 | 13318Exceptional Measures Concerning Cash Withdrawals from Foreign Currency Bank Accounts
The Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13318 to extend the validity period of Basic Decision No. 13221, which establishes exceptional measures governing cash withdrawals from foreign currency bank accounts, until September 30, 2021. This extension preserves the existing regulatory framework for foreign currency cash withdrawals without modifying its substantive provisions. The decision takes immediate effect upon issuance and is required to be published in the Official Gazette.
Circular No. 581
To Banks
We enclose herewith a copy of Intermediary Decision No. 13318 dated March 24, 2021 concerning the amendment of Basic Decision No. 13221 dated April 21, 2020 (Exceptional Measures concerning Cash Withdrawals from Foreign Currency Bank Accounts) attached to Circular No. 151.
Beirut, on March 24, 2021
Governor of the Central Bank of Lebanon
Riad T. Salame
Intermediary Decision No. 13318
Amending Basic Decision No. 13221 dated April 21, 2020 (Exceptional Measures concerning Cash Withdrawals from Foreign Currency Bank Accounts)
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Loans Law, particularly Articles 174 and 70 thereof, and pursuant to Basic Decision No. 13221 dated April 21, 2020 concerning exceptional measures regarding cash withdrawals from foreign currency accounts, and based on the decision of the Central Bank Council taken in its meeting held on March 24, 2021,
hereby decides as follows:
Article One: The provisions of Basic Decision No. 13221 dated April 21, 2020 shall remain in force until September 30, 2021.
Article Two: This decision shall take effect upon its issuance.
Article Three: This decision shall be published in the Official Gazette.
Beirut, on March 24, 2021
Governor of the Central Bank of Lebanon
Riad T. Salame